Homeowners Eligible for $208 Million Settlement
If you sold a home in the United States within the past decade, you might be entitled to a portion of a substantial $208.5 million settlement resulting from a class-action lawsuit against major real estate brokerages. This legal action addresses allegations that certain industry practices led to inflated commission fees for sellers.
Understanding the Settlement
The lawsuit, known as Burnett et al. v. National Association of Realtors, et al., alleged that major real estate firms, including Anywhere Real Estate (formerly Realogy), RE/MAX, and Keller Williams, conspired to enforce anticompetitive commission structures. Specifically, it was claimed that these companies required home sellers to pay commissions to buyer agents, leading to higher overall costs for sellers. While the defendants have not admitted any wrongdoing, they have agreed to a collective settlement of $208.5 million to resolve the claims.
Who Is Eligible?
You may qualify for a portion of the settlement if:
- You sold a home in the U.S. during the eligible date range.
- The home was listed on a Multiple Listing Service (MLS).
- You paid a commission to a real estate brokerage in connection with the sale.
The specific eligible date range varies depending on the MLS used for the listing. For detailed information on eligibility criteria and to determine if your home sale qualifies, visit RealEstateCommissionLitigation.com.
How to File a Claim
Eligible individuals must submit a claim form by May 9, 2025. No proof of purchase is required to file a claim, but you will need to provide information about your home sale and the commission paid. The settlement funds will be distributed to qualifying claimants after deducting attorneys’ fees, administrative costs, and other expenses.
Potential Compensation
The exact amount each claimant will receive depends on the number of valid claims submitted. While the total settlement is substantial, individual payouts may vary. Some reports suggest that, after deductions and depending on the volume of claims, individual payments could be modest.
Broader Implications
This settlement highlights ongoing concerns about commission structures in the real estate industry. It may lead to increased scrutiny of brokerage practices and could prompt reforms aimed at enhancing transparency and fairness for home sellers.
Next Steps
If you believe you are eligible:
- Visit RealEstateCommissionLitigation.com to review the eligibility criteria.
- Complete and submit the claim form by May 9, 2025.
- Stay informed about the settlement process and any updates regarding disbursements.
By taking these steps, you can ensure that you receive any compensation you may be entitled to from this significant settlement.
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