Massive Compensation for Home Sellers Due to Inflated Broker Fees.
Homeowners who sold their properties through a multiple listing service (MLS) between October 31, 2017, and July 23, 2024, and paid a real estate broker commission, may be entitled to compensation from a series of class action settlements totaling over $730 million. The settlement stems from allegations of inflated commission fees imposed by major real estate brokerage firms, including Compass, Redfin, Engel & Völkers, and others.
The settlements are a result of the “real estate commission litigation,” where various real estate brokers and agents were accused of violating antitrust laws by conspiring to artificially inflate commission fees. This collusion allegedly forced consumers to pay higher commissions when selling their homes. In response, the defendants have agreed to collectively contribute over $110 million to a settlement fund, including the following:
- Compass Inc. – $57.5 million
- Real Brokerage – $9.25 million
- Realty ONE – $5 million
- @Properties – $6.5 million
- Douglas Elliman – $7.75 million, with an additional $10 million contingent
- Redfin – $9.25 million
- Engel & Völkers – $6.9 million
- HomeSmart – $4.7 million
- United Real Estate – $3.75 million
These payments, combined with other settlements, make up the total amount exceeding $730 million. Class members, who meet specific eligibility criteria, will receive a proportional share of the settlements.
Eligibility and Claims Process
If you sold a home during the eligible date range, listed it on an MLS, and paid a commission to a real estate broker, you may qualify for compensation. More information on eligibility and the dates of settlement can be found on the official settlement website, RealEstateCommissionLitigation.com.
Important Dates to Remember:
- Exclusion and Objection Deadline: October 3, 2024
- Final Approval Hearing: October 31, 2024
- Claim Form Deadline: May 9, 2025
Individuals who already submitted a claim form with another defendant do not need to file a new one.
Potential Awards and Proof of Purchase
The settlement amounts vary, and homeowners must provide closing documents as proof of their commission fees paid. This could include documents that reflect the real estate sale date and the commissions involved. For more details on how to claim, visit the settlement website.
Fraudulent Claims Warning
Filing a fraudulent claim can harm other eligible class members and is subject to penalties. If you are unsure whether you qualify, the FAQ section of the settlement website can help guide you.
Key Case Information:
- Case Name: Gibson, et al. v. National Association of Realtors, et al.
- Case No.: 23-CV-788-SRB
For more information or to submit a claim, visit the official settlement website or contact the claims administrator at the provided details.
Claims Administrator: JND Legal Administration
PO Box 91479
Seattle, WA 98111
[email protected]
Phone: 888-995-0207
Class Counsel:
- KETCHMARK AND MCCREIGHT P.C.
- WILLIAMS DIRKS DAMERON LLC
- BOULWARE LAW LLC
- HAGENS BERMAN SOBOL SHAPIRO LLP
- COHEN MILSTEIN SELLERS & TOLL PLLC
- SUSMAN GODFREY LLP
Defense Counsel:
- CROWELL & MORING LLP
- O’MELVENY & MYERS LLP
- SHEPPARD, MULLIN, RICHTER & HAMPTON LLP
- HONIGMAN LLP
- KASOWITZ BENSON TORRES LLP
- PAUL, WEISS, RIFKIND, WHARTON & GARRISON LLP
- PILLSBURY WINTHROP SHAW PITTMAN LLP
- FREEMAN MATHIS & GARY LLP
- BRYAN CAVE LEIGHTON PAISNER LLP