eXp World Holdings Named in California Commission Antitrust Suit Covering Five Counties

eXp World Holdings, Inc., parent of eXp Realty, disclosed in a Form 8-K filed January 23, 2024 that it and several of its subsidiaries have been named as defendants in another proposed class action over real estate commissions.

The suit, Gael Fierro et al. v. The National Association of Realtors, et al., was filed January 17, 2024 in the U.S. District Court for the Central District of California. It names the National Association of Realtors, regional Realtor associations and multiple listing services, and a number of brokerages, franchisors and brokerage owners.

The complaint alleges the defendants conspired to restrain trade by causing home sellers to pay buyer-broker fees and inflated commissions, in violation of federal and California antitrust laws and California unfair competition laws. The proposed classes cover sellers in Los Angeles, Madera, Fresno, Merced and Mariposa counties who used a listing broker affiliated with a defendant, listed the home on an MLS and paid a commission to a buyer's broker from January 17, 2020 to the present. Plaintiffs seek an injunction, declaratory relief, damages and legal fees.

Earlier in January, eXp disclosed that it and eXp Realty, LLC had also been named in Umpa et al. v. The National Association of Realtors et al., a proposed nationwide seller class action filed December 27, 2023 in the Western District of Missouri.