BrokerageIndustry News

2 Michigan MLSs settle with discount brokerage

Realcomp remains a party in two other lawsuits
Published on Oct 28, 2010

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by CareyBot

A Michigan brokerage that claimed it was put out of business by two multiple listing services has reached confidential, out-of-court settlements with both MLSs.

Home Quarters Real Estate Group had claimed damages in excess of $10 million in a May 2007 lawsuit against MiRealSource and Realcomp II Ltd.

Attorneys for Home Quarters, which offered cash rebates to buyers and commission discounts to sellers, claimed traditional Realtors were threatened by the Home Quarters business model. The lawsuit claimed that the MLSs enacted rules aimed at forcing the brokerage to adopt a more traditional business model.

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