A recent statement from a prominent trade group in the mortgage industry asserts that their settlement, which includes mandatory buyer representation agreements, is not in violation of antitrust laws. The group maintains that this provision is a common practice within the industry and is intended to protect both buyers and sellers in real estate transactions.
Key points from the statement include:
– The trade group denies that mandatory buyer representation agreements are anticompetitive
– They argue that these agreements ensure transparency and accountability in real estate transactions
– The group emphasizes that these agreements benefit both buyers and sellers by providing clarity and protection during the home-buying process
– They emphasize that the provision is in line with industry standards and practices, and is not an attempt to limit competition or consumer choice.
You can read this full article at: https://www.housingwire.com/articles/nar-doj-commission-lawsuit-settlement-agreement/(subscription required)
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