U.S. Justice Dept, realtors argue over probe into fees, listings

[Eugene]

Source: Reuters

U.S. Justice Dept, realtors argue over probe into fees, listings

Diane Bartz
Updated Fri, December 1, 2023 at 1:38 PM EST·2 min read

WASHINGTON (Reuters) - The Justice Department and National Association of Realtors tangled on Friday in an appeals court over the government's decision to close, and then re-open, an antitrust investigation into the way people pay the thousands of dollars in fees when they buy or sell a home.

The Justice Department, during the Trump administration, closed an investigation into the realtors organization. The Biden administration re-opened it in 2021 so it could probe how broadly housing listings are available and what fees home sellers pay to the brokers who represent buyers.

The Biden administration has focused on pocket book issues, and for the vast majority of consumers, buying or selling a house is the largest financial transaction they will ever make, with realtor fees a hefty chunk of that money.

Judge Florence Pan, one of three judges on the panel for the U.S. Court of Appeals for the D.C. Circuit, seemed skeptical of NAR's position, saying at one point: "It is not unusual for investigations to be re-opened."

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Read more: https://news.yahoo.com/u-justice-dept-realtors-argue-170308608.html

[bucolic_frolic]

1. " thousands of dollars in fees "?? Try tens of thousands