eXp Realty Named in Nevada Class Action Over Buyer Broker Commissions
eXp World Holdings disclosed in a Form 8-K filed February 1, 2024 that its subsidiary eXp Realty has been named as a defendant in a new putative class action over real estate commissions.
The suit, Whaley v. National Association of Realtors et al., was filed January 25, 2024 in the U.S. District Court for the District of Nevada. It alleges that the defendants conspired to require home sellers to pay the commission of the buyer's broker, in violation of federal antitrust law and Nevada's unfair trade practices law.
The proposed class covers home sellers who listed properties on certain multiple listing services and paid a commission to a buyer's broker from January 15, 2020 to the present.
The filing added to a series of commission lawsuits naming eXp Realty that followed the October 2023 jury verdict against the National Association of Realtors and several large brokerages in Missouri.
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