A $7.7 billion unicorn or a scam? Well, it’s both.
Better Real Estate is an integral element of one of the largest real estate scams in history, taking place on the Internet, built with blanket referral and price-fixing agreements between independent Realtors.
Better Real Estate, LLC engages consumer allocation, unlawful kickbacks, tying agreements, price-fixing, and market allocation practices between its own brokerage and competing Realtors (Better Real Estate Partner Agents.)
The company is backed by SoftBank Group International and has taken about $905 million in funding thus far. To make up for this poor allocation of capital, commonly known as mega-rounds, Better uses a set of unlawful strategies to increase the gross revenue from mortgage origination services and real estate services by unlawfully bundling them.
Kickbacks and price-fixing between competitors does not save anyone anything, but it does carry a ten-year prison sentence in addition to trebled fines. Read the full review and learn the truth about Better Real Estate.
#antitrust #kickbacks #affordablehousing #realestate #mortgage #homebuying #homeselling U.S. Department of Justice Federal Trade Commission Consumer Financial Protection Bureau Vishal Garg Diana Tsai