L.A. Corruption

A Southern California developer agreed to pay $1.2 Million to resolve a criminal probe into its relationship with ex-L.A. City Councilman Jose Huizar, who was indicted on racketeering charges. The developer admitted it made $75,000 in pollical contributions in exchange for a reduction of the affordable housing requirement for one of its real estate projects.

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Realty Antitrust

A federal judge denied the National Association of Realtors’ motion to dismiss an antitrust suit challenging the requirement that a home seller pay the buyer’s realtor’s commission in order for their property to be listed on the Multiple Listing Service used by realtors nationwide. The homeowners adequately claim that major corporate realtors deprived the real estate market of independent centers of decision-making by effectively concentrating power in the association to set the rules for buyer-broker commissions.

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