"The lawsuit claims that the defendants engaged in a coordinated scheme to restrict consumer choice and maintain elevated prices, harming his brokerage model."
"Zea runs www.snapflatfee.com, a brokerage that charges sellers a listing fee in exchange for limited services, syndicating listings data to MLS feeds."
"According to Zea, buyer's agents associated with the defendants steer clients away from properties that offer a reduced or nonexistent buyer's agent commission."
"The rules in question relate to the mandatory display of a listing broker's contact information on the listing page in an IDX display."
Judge Dimitrouleas dismissed CT Realtors, Smart MLS, and WeSERV from a lawsuit filed by Jorge Zea, who claims these associations engaged in anti-competitive practices. The dismissal was without prejudice, allowing Zea to refile. The lawsuit alleges that the defendants coordinated to restrict consumer choice and maintain high prices, harming Zea's brokerage model, which charges a listing fee for limited services. Zea argues that buyer's agents steer clients away from properties with reduced commissions due to non-enforcement of certain NAR rules.
Read at www.housingwire.com
Unable to calculate read time
Collection
[
|
...
]