Berkshire brokerage HomeServices hit with new lawsuit over commissions [Reuters]
Berkshire Hathaway Inc. New (BRK.B)
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Source: Reuters
it of charging commissions that artificially inflated the cost of buying a home in the United States. The lawsuit against HomeServices of America was on behalf of home buyers in Miami federal court on Monday, days after the it would pay $250 million to resolve nationwide claims from home sellers challenging the same commission. U.S. home sellers typically must pay for the services of a buyer's agent in order to get a home included on a "multiple listing service," the platforms where most homes in the U.S. are bought and sold. A commission as high as 6% of the price of a home is then split between the buyer's and seller's agent. Home sellers have accused HomeServices and other large U.S. real estate brokerages in several lawsuits of using the requirement to drive up commissions as part of an antitrust conspiracy with the industry's trade group, National Association of Realtors. Home buyers in the new lawsuit claim the commission rule leads agents to steer their clients to house
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BRK.B
Earnings
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Sec Filings
- 5/17/24 - Form 4
- 5/15/24 - Form 13F-HR/A
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- BRK.B's page on the SEC website