A Class Action Suit Could Upend The Entire Real Estate Industry
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If you have ever bought a home, or are thinking about buying one, you know it can be expensive. For most people a home is the most expensive purchase they will ever make. But selling a home can be expensive too. In part, that's because of the commissions real estate agents collect when a home is sold.Depending on the price of the home commissions can be tens of thousands of dollars. A class action lawsuit brought by a group of Missouri home sellers against the National Association of Realtors argues that these fees hurt consumers by artificially inflating home prices. This past week, a federal jury awarded the home sellers $1.8 billion dollars. Adrian Ma and Wailin Wong, co-hosts of NPR's The Indicator, breakdown how that decision could change the entire real estate industry. Email us at [email protected]
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