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A Class Action Suit Could Upend The Entire Real Estate Industry

SAN ANSELMO, CALIFORNIA - MARCH 22: A for sale sign is posted in front of a home on March 22, 2023 in San Anselmo, California. Pre-existing home sale prices in the U.S. dropped for the first time in 11 years. The national average price of an existing-home fell 0.2% in February to $363,000. (Photo by Justin Sullivan/Getty Images)

Justin Sullivan/Getty Images

A Class Action Suit Could Upend The Entire Real Estate Industry

SAN ANSELMO, CALIFORNIA - MARCH 22: A for sale sign is posted in front of a home on March 22, 2023 in San Anselmo, California. Pre-existing home sale prices in the U.S. dropped for the first time in 11 years. The national average price of an existing-home fell 0.2% in February to $363,000. (Photo by Justin Sullivan/Getty Images)

Justin Sullivan/Getty Images

A Class Action Suit Could Upend The Entire Real Estate Industry

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 considerthis@npr.org

SAN ANSELMO, CALIFORNIA - MARCH 22: A for sale sign is posted in front of a home on March 22, 2023 in San Anselmo, California. Pre-existing home sale prices in the U.S. dropped for the first time in 11 years. The national average price of an existing-home fell 0.2% in February to $363,000. (Photo by Justin Sullivan/Getty Images)

Justin Sullivan/Getty Images

 

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 considerthis@npr.org

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