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How Will the New DOJ Handle the RealPage Antitrust Case?

March 19, 2025

Wednesday, March 19, 2025

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  • Real afterthought: The DOJ’s new antitrust chief is prioritizing big mergers, leaving RealPage’s pricing lawsuit on the back burner.

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The Trump administration has been overhauling the Department of Justice, and the direction it takes the agency will have major consequences for the real estate industry. Last week, the Senate confirmed Trump’s choice to head the DOJ’s antitrust division, Gail Slater. Slater is a lawyer and former FTC regulator who served as a policy advisor for Vice President Vance. As Assistant Attorney General for the DOJ, she will oversee the ongoing lawsuit against RealPage for what the DOJ claims is a pricing scheme perpetrated by the company’s price optimization product.

There has been no specific mention of the RealPage case, but the new antitrust head has already begun weighing in on the real estate industry. Under Slater’s leadership, the DOJ has already made its mark: this week, the department urged a federal judge to reject a proposed $4 million settlement in a case involving allegedly excessive commission fees by MLS Property Information Network (MLS PIN). The DOJ criticized the settlement as merely “cosmetic” and called for more substantial changes to industry practices.

At first glance, Trump’s DOJ might spell bad news for RealPage. So far, the DOJ has been aggressive in targeting tech companies for what it considers anticompetitive practices. The FTC recently subpoenaed Microsoft regarding its investment in OpenAI, and earlier this month, the Justice Department announced its support of a landmark ruling that would break up Google over its dominance in internet search results.

But, upon closer examination, it appears that the RealPage case may not be a priority for federal prosecutors. Andrew Ferguson, head of the FTC, has stated that mergers and acquisitions are the primary focus of the current team. Gail Slater has also focused on mergers; during her time at the FTC, she worked to block several high-profile deals, including Whole Foods’ attempt to acquire Wild Oats Markets. She has further experience working alongside tech companies, having served as vice president for legal and regulatory policy at the Internet Association, a tech lobbying group.

There is still a distinct possibility that the DOJ will continue its probe into property pricing software. But, the new DOJ seems less concerned about algorithmic pricing schemes and more focused on preventing large-scale mergers. Even if the DOJ does decide to back away from the RealPage case, there is little evidence that any of the 10 states also suing the company will change their stance.

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