BrokerageIndustry News

Illinois broker amends antitrust lawsuit

Brokerages seek to dismiss claims

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An antitrust lawsuit filed against Illinois real estate companies, Realtor associations and individuals has been revamped in an effort to meet new standards that relate to a U.S. Supreme Court decision. The lawsuit, originally filed by Illinois broker Gregory Hackman in November 2006 and amended in October 2007, charges that other industry participants retaliated against Hackman when he offered a reduced commission rate for real estate services. The amended complaint alleges that the parties named in the lawsuit "entered into an agreement where they would ... retaliate against Hackman in every facet of his business," specifically refusing to show Hackman's listings to their own clients and refusing to present offers on their listings from potential buyers represented by Hackman. The complaint alleges occurrences in which parties named in the lawsuit "stole" a client from Hackman by convincing a client to break a contract, and in another instance made "derogatory" statements to a home s...