Mich. Real Estate Firms Hit With Antitrust Action

Law360, New York (October 11, 2010, 6:08 PM EDT) -- A group of homebuyers has launched a proposed antitrust class action against real estate association Realcomp II Ltd., alleging that its policies caused brokerage fees in Southeastern Michigan to remain artificially high.

Realcomp and its member associations violated the Sherman Antitrust Act by hiding and suppressing lower-cost brokerage alternatives in their online home-listings service, according to a complaint filed Friday in the U.S. District Court for the Eastern District of Michigan.

The lawsuit comes in the wake of a Federal Trade Commission decision in Oct. 2009...
To view the full article, register now.