Real estate commission lawsuit settlements get final approval from court

“The
final
approval
of
these
settlements
by
the
court
was
expected,”
said
Marty
Green,
principal
at
mortgage
law
firm
Polunsky
Beitel
Green.
“Although
there
were
some
objections
that
the
court
had
to
address,
the
momentum
of
the
case
has
been
rapidly
moving
toward
a
nationwide
resolution,
and
it
was
very
unlikely
that
the
court
was
interested
in
deviating
from
a
process
that
furthered
that
outcome.”

RE/MAX
Holdings
CEO
Erik
Carlson
commented:
“Since
entering
into
the
settlement
last
fall,
RE/MAX
has
been
committed
to
obtaining
final
approval.
We
are
thrilled
to
be
leading
the
way
in
moving
forward,
maintaining
our
focus
on
supporting
RE/MAX
affiliates
and
continuing
to
foster
greater
transparency
in
the
industry
on
behalf
of
homebuyers
and
sellers.”

“I
am
pleased
the
court
has
granted
Anywhere
final
approval
of
our
nationwide
settlement,”
said
Ryan
Schneider,
Anywhere
CEO
and
president.
“This
is
a
significant
milestone
on
our
path
to
put
these
claims
behind
us,
begin
to
implement
agreed
upon
practice
changes,
and
move
forward
with
our
affiliated
agents
and
franchisees
as,
together,
we
continue
helping
home
buyers
and
sellers
move
to
what’s
next.”

The
settlements
are
the
largest
so
far
from
the
high-profile
commission
lawsuits
alleging
real
estate
companies
conspired
to
inflate
fees
paid
by
home
sellers
through
antiquated
rules.
The
NAR
previously
reached
a
$781
million
settlement
that
awaits
final
approval
in
November.

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