Real Estate Fees Crushed By Anti-Trust | David Dayen | TMR
March 26, 2024
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27:30Now PlayingReal Estate Fees Crushed By Anti-Trust | David Dayen | TMR
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as posted by the channelLive-streamed on March 19, 2024
David Dayen, executive editor at the American Prospect, discusses his recent piece regarding The National Association of Realtors decision to end their practice of 6% agent commission sales for residential home sales.
David Dayen then joins, parsing through the history of the real estate industry (and the National Association of Realtors) and their system of price-fixing standards via the use and abuse of commission fees to qualify for listing on the Multiple Listing Service (MLS). Expanding on this, Dayen walks through last year’s class-action anti-trust suit in Missouri that saw a jury hit the National Association of Realtors with $1.8 billion in damages, as well as the copycat cases that have since cropped up across the country, resulting in a massive settlement alongside the end of the industry’s commission-based price fixing tactics, before walking through the major impacts this could have on the US housing market in terms of lower fees, greater affordability, and a weaker realty lobby. After briefly touching on what this case tells us about the growing power of anti-trust in the US, David, Sam, and Emma wrap up with Google’s continuing anti-trust problems.
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