Residential Real Estate Broker Commissions Antitrust Settlements - If you sold a home and paid a commission to a real estate agent, you may be a part of class action settlements

SEATTLE, Aug. 19, 2024 /PRNewswire/ -- JND Legal Administration

Proposed settlements have been reached with the National Association of Realtors ("NAR") and Home Services of America ("HomeServices"), resolving certain claims, including in lawsuits known as Burnett v. National Association of Realtors, Case No. 19-CV-00332-SRB (W.D. Missouri); Moehrl v. NAR, Case No. 1:19-cv-01610-ARW (N.D. Illinois); Umpa v. NAR, Case No. 4:23-cv-00945 (W.D. Missouri); and Gibson v. NAR, Case No. 23-CV-788-SRB (W.D. Missouri). The lawsuits allege the existence of an anticompetitive agreement that resulted in home sellers paying inflated commissions to real estate brokers or agents in violation of antitrust law. Proposed Settlements have also been reached with other Defendants in these actions, including Anywhere Real Estate, RE/MAX, Keller Williams, Compass, Real Brokerage, Realty ONE, @properties, Douglas Elliman, Redfin, Engel & Völkers, HomeSmart, United Real Estate, and certain of their affiliates. Although the Burnett Court has authorized notice to be given of the proposed settlements with NAR and HomeServices, this Notice does not express the opinion of the Court on the merits of the claims or defenses asserted by either side of the lawsuits. Additional settlements may be reached with other Defendants. Go to www.RealEstateCommissionLitigation.com for more information about these settlements and any additional settlements, and to submit your email to receive all future notices.

Am I affected?

You are a Settlement Class Member and eligible for payment if you: (1) sold a home during the Eligible Date Range; (2) listed the home that was sold on a multiple listing service ("MLS") anywhere in the United States; and (3) paid a commission to any real estate brokerage in connection with the sale of the home. The Eligible Date Range depends on what MLS you listed your home for sale on. Go to www.RealEstateCommissionLitigation.com to see the Eligible Date Ranges and to learn more.

What do the settlements provide?

NAR has agreed to pay at least $418 million, and HomeServices has agreed to pay $250 million, into a Settlement Fund. The current value of all Settlements with these and other Defendants is over $980 million. The Fund will be distributed to qualifying Settlement Class Members who submit an approved claim form, after any awarded attorneys' fees, expenses, settlement administration costs, and service awards have been deducted. The settling Defendants have also agreed to provide Cooperation and to implement Practice Changes, including that NAR will prohibit sellers and listing agents from making offers of compensation on REALTOR® MLSs to buyer agents. You can learn more about the Practices Changes and Cooperation in the Settlement Agreements, which are available at www.RealEstateCommissionLitigation.com.

How do I get a payment? 

Note: If you have already submitted a Claim Form in these cases for a prior Settlement with other Defendants, you do not need to submit another Claim.

You must submit a claim form, with information pertaining to and/or evidence of your home sale and commissions paid, by May 9, 2025. Claim forms can be submitted online at www.RealEstateCommissionLitigation.com. You can also print a claim form at the website and mail it to Burnett v. National Association of Realtors, c/o JND Legal Administration, PO Box 91479, Seattle, WA 98111, or email it to [email protected].

What are my other options?

You may object to or exclude yourself (opt-out) from the Settlements by October 28, 2024, or do nothing. If you exclude yourself, you will not receive a settlement payment, but this is the only option that allows you to sue NAR or HomeServices relating to commissions for brokerage services. If you wish to object, the Court will consider your views in deciding whether to approve or reject the proposed settlements. If the Court does not approve the settlements, no settlement payments will be sent, and the lawsuits will continue. You cannot object if you opt-out. By doing nothing, you will get no payment, and you will not be able to sue NAR or HomeServices relating to commissions for brokerage services. For more information, including how to object or exclude yourself and to read the full terms of the release, visit www.RealEstateCommissionLitigation.com.

What happens next?

The Court will hold a hearing on November 26, 2024 to consider whether to grant final approval of the settlements and award fees and costs to the attorneys representing the class ("Class Counsel"). The Court has appointed the law firms of Ketchmark and McCreight; Williams Dirks Dameron; Boulware Law; Hagens Berman Sobol Shapiro; Cohen Milstein Sellers & Toll; and Susman Godfrey, as Class Counsel. Class Counsel will ask the Court to award an amount not to exceed one-third (33.3%) of the Settlement Fund for attorneys' fees, plus out-of-pocket expenses incurred during the cases. The Court may award less. Class Counsel may also seek compensation for each current and/or former class representative. You will be represented by Class Counsel at the hearing unless you choose to enter an appearance in person or through your own counsel, at your own cost. The appearance of your own attorney is not necessary to participate in the hearing.

Questions?

This Notice is only a summary. To learn more, visit www.RealEstateCommissionLitigation.com, call toll-free 888-995-0207, email [email protected], or write Burnett v. National Association of Realtors, c/o JND Legal Administration, PO Box 91479, Seattle, WA 98111.

SOURCE JND Legal Administration