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Kentucky REALTOR® News

Kentucky firms see price fixing claims dismissal upheld

Jan 06, 2015

A federal appellate court affirms dismissal of class-action lawsuit brought by home sellers who claimed that local brokerages had conspired to fix commission rates in violation of federal antitrust laws.

A group of home sellers (collectively, “Sellers”) filed a lawsuit against a number of local brokerages and some of their corporate parent companies.  The lawsuit alleged that the brokerage firms had entered into an illegal arrangement to fix commission rates, demonstrated by the fact that they all charged a similar rate and the commission rates hadn’t decreased despite a rise in the average home sale price. Read More

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Buyer’s rep not liable for measurement error

Jul 16, 2014

A Texas appellate court has evaluated whether a buyer’s representative was liable to his clients for inaccurate square footage information. 

Bowen Zhu and Jian Yu (collectively, “Buyers”) purchased a home. The Buyers had retained real estate licensee Kai Lam (“Buyer’s Representative”) of The Household Realty, Inc. (“Brokerage”) to represent them in the transaction.

During the course of the transaction, the listing broker, the local government appraisal district, and the Buyer’s Representative had all represented that the size of the property’s living area as 2,722 square feet. While viewing the property, the Buyers had remarked that the property seemed smaller than their 2600 square feet residence, but the Buyer’s Representative had responded that this was because the property had an open floor plan. Read More

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