The real estate industry on trial

This podcast episode delves into the investigation led by personal injury lawyer Mike into the widespread practice of inflated commission fees paid by homebuyers in Missouri. Mike uncovers a price-setting conspiracy involving large realtor franchises and the National Association of Realtors (NAR). He takes the case to trial, presenting arguments that high commissions paid to buyers' agents are anti-competitive and hinder buyers from seeing all available options. The trial reveals evidence of collusion and price fixing, leading to a jury awarding $5.4 billion in damages to the plaintiffs. The verdict prompts the NAR to settle the lawsuit, paying $418 million and implementing changes to business practices. The outcome of the litigation has the potential to significantly impact the real estate industry, potentially lowering commissions and home prices.