REAL Brokerage
December 28, 2023
TORONTO and NEW YORK -- December 28, 2023
The Real Brokerage Inc. said it has been named as a defendant in a putative class action lawsuit filed in the U.S. District Court for the Western District of Missouri.
The suit, Umpa v. The National Association of Realtors, et al., alleges that certain real estate brokerages, including Real, took part in practices that inflated buyer broker commissions in violation of federal antitrust laws. Real said it was evaluating the complaint and could not comment further.
The company said additional antitrust litigation may be possible and that it cannot assure investors that the outcome of this or similar cases will not have a material adverse effect on its business, results or financial condition.
Real operates a technology-based brokerage in all 50 U.S. states and Canada and at the time supported more than 13,000 agents.