National realtors group defeats Utah brokerage's antitrust lawsuit
In a ruling, opens new tab on Tuesday, U.S. District Judge Dale Kimball in Salt Lake City, Utah said discount home brokerage Homie Technology had not presented enough information showing that industry rules developed by the realtors' group harmed the company. Kimball also said Homie's claims were untimely.
The 2024 lawsuit accused the realtor group and several large U.S. brokerages of violating antitrust law by conspiring to boycott Homie, which marketed itself as a new entrant focused on using technology to lower brokerage prices for consumers.
Kimball said 'antitrust laws are intended to protect competition, not individual competitors.'
Homie's lawyers did not immediately respond to a request for comment.
In a statement, the realtors association said it welcomed the judge's ruling and would continue working to foster competition in real estate markets.
The Chicago-based association denied that its policies hurt Homie, telling the court that Homie, founded in 2015, was once among the largest brokerages in the state.
The realtors association has faced a wave of lawsuits in recent years from home sellers and others that challenged some industry rules, including brokerage commissions.
Last year, the group had agreed to pay $418 million in a nationwide settlement to resolve claims that it conspired with brokerages to inflate commissions that home sellers pay for residential real estate sales.
In its lawsuit, Homie said the association's rules 'imposed substantial barriers to the entry and expansion of brokers offering low prices to compete across the United States and in Utah.'
Kimball said Homie's lawsuit missed the four-year window to bring claims for U.S. antitrust law violations.
Homie, as a rival to traditional brokerages and a self-described industry disruptor, 'actually stood to benefit from the higher prices imposed by the supposed conspiracy,' the judge wrote.
Kimball also dismissed Homie's allegations against brokerages including HomeServices of America; Anywhere; and Re/Max. The brokerages had all denied any wrongdoing.
The case is Homie Technology Inc v. National Association of Realtors, U.S. District Court, District of Utah, No. 2:24-cv-00616-DAK-JCB.
For Homie: Christopher Renner of Dhillon Law Group
For NAR: Mike Bonanno of Quinn Emanuel Urquhart & Sullivan, and Thomas Lee of Schaerr Jaffe
Read more:
Realtor association hit with new antitrust lawsuit over 'pocket listings'
Real estate broker Compass sues listing service over marketing rules
US must face claims over pandemic ban on residential evictions
Home listing service ends antitrust lawsuit against US realtors' group
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