Nov 21, 2023
LPHS Pursues Class Action Against Real Estate Giants
LPHS partner Michael K. Hurst and other firm attorneys are serving as co-counsel in representing two North Texas home sellers in a proposed class action lawsuit that alleges an unlawful conspiracy between residential real estate companies and associated organizations in the state. Filed under the Sherman Antitrust Act and the Texas Deceptive Trade Practices Act, the suit targets the Texas Association of Realtors and local realty boards and companies in major Texas cities.
The plaintiffs claim that restricting access to the Multiple Listing Service database inflates commissions, violating federal antitrust regulations. The alleged practice of "steering" homeowners into accepting inflated commissions adds pressure, potentially reshaping ethical norms in the real estate industry.
The lawsuit has resulted in media coverage in Law360, D Magazine, Texas Lawyer, The Texas Lawbook, and the Houston Chronicle.