12:45 PM EST, 11/25/2024 (MT Newswires) -- The US Department of Justice's antitrust division warned a federal judge on Sunday that part of a proposed settlement in a class action suit over home sales commissions could limit broker competition.

In March, the National Association of Realtors, or NAR, and the four largest national real estate broker franchisors agreed to pay $418 million over about four years to settle claims brought by Missouri homeowners accusing them of conspiring "to require home sellers to pay the broker representing the buyer of their homes, and to pay an inflated amount, in violation of federal antitrust law and the Missouri Merchandising Practices Act."

In a statement of interest, the DOJ said that while the proposed settlement may achieve "important concessions," it "does not mean that the proposed settlement effectively prevents or restrains ongoing antitrust violations or remedies past violations, or itself contemplates practices that fully comply with the antitrust laws."

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