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Homie, a flat-fee brokerage facing challenges, has filed an antitrust lawsuit against the National Association of Realtors and other industry players. The lawsuit alleges a conspiracy to prevent innovation and boycott low-commission listings.
The suit, filed in Utah, claims violations of antitrust laws and challenges NAR’s now-eliminated Participation Rule. The lawsuit seeks unspecified damages and highlights alleged boycotts of Homie’s listings by real estate incumbents.
Homie’s complaint includes messages demanding higher commissions and accuses defendants of creating barriers to entry for new competitors. The lawsuit names NAR, along with other industry players, as defendants.
Homie’s lawsuit is part of a broader trend of antitrust actions in the real estate industry, challenging practices that limit competition and innovation.
While the lawsuit echoes previous cases, it stands out as a corporate filing rather than consumer-led. Homie aims to recover damages and alleges that its exclusion as a competitor was the result of defendants’ actions.
Overall, the lawsuit paints a picture of a stagnant industry and asserts that Homie could have gained market share if not for the alleged anti-competitive practices of the defendants.
The complaint alleges that both consumers and the company experienced negative consequences. You can access the full complaint from Homie here. The article has been updated with additional information and comments from the parties involved in the lawsuit. Contact Jim Dalrymple II via email for more information.