DOJ says realtor group settlement could harm competition, Reuters reports

The Justice Department, which is not a party to the proposed $418M settlement in a class action over home sales commissions, submitted a “statement of interest” to U.S. District Judge Stephen Bough to share the antitrust division’s position that a provision in the settlement requiring prospective buyers and their brokers to sign a written agreement before the buyer tours a home could constrain competition among brokers, reported Reuters. Judge Bough is set to weigh final approval of the accord at a hearing on Tuesday, the report noted. Companies that may be impacted by or who are party to the proposed National Association of Realtors, or NAR, settlement include Re/Max Holdings (RMAX), Zillow (Z) (ZG), CoStar Group (CSGP), Compass (COMP), Redfin (RDFN), eXp World (EXPI), Anywhere Real Estate (HOUS) and Real Brokerage (REAX).