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Major real estate firms face antitrust suit

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The National Association of Realtors and four large real estate firms are facing a far-reaching antitrust lawsuit.

A class-action suit alleges home buyers are harmed by a process involving local multiple listing services that requires them to pay the broker representing the house at "inflated" amounts. Most multiple listing services - databases of properties listed in an area - are controlled by local realty associations.

The suit seeks to allow customers to negotiate directly with the agents who represent them, thus making fees lower and more competitive, according to The Washington Post.

The suit names Re/Max, Keller Williams, HomeServices of America and Realogy Holdings as co-defendants.

Read more from The Washington Post.

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