Court Rules San Diego Boards Fixed Prices

San Diego County’s five boards of Realtors fixed the prices they charged 8,000 realty agents to share information about properties on the market, the U.S. 9th Circuit Court of Appeals ruled.

Real estate agents Arleen Freeman and James Alexander sued the boards in 1998, claiming they fixed the prices of multiple-listing services to all of the county’s realty agents.

“We are studying the opinion carefully and will proceed appropriately,” said Charles Cohler, an attorney for the San Diego Assn. of Realtors

The class-action lawsuit alleges that San Diego real estate agents were overcharged by about $2 million a year, or $20 per agent per month, said David Barry, the attorney who represented Freeman and Alexander. The agents are seeking $60 million in damages.

From Bloomberg News