T
he eXp Realty brokerage has agreed to a $34 million settlement in a Georgia lawsuit over buyer agent commissions, bringing the total settlement fund to over $1 billion. The deal, which is pending court approval, resolves claims against eXp and its subsidiaries nationwide. According to an SEC filing, the company will pay half of the settlement within 30 business days of preliminary approval, with the remaining amount due within a year.

    eXp continues to deny allegations in the lawsuit but has taken steps to address concerns over broker-to-broker compensation on multiple listing services (MLS). The company has introduced new buyer agreement forms and seller resources, and its CEO, Leo Pareja, has stated that eXp will no longer facilitate seller-paid commissions if they are prohibited by MLS rules.

    This settlement is part of a larger trend in the real estate industry. Brokerages with over $2 billion in sales volume were excluded from the National Association of Realtors' (NAR) settlement deal and can choose to opt-in or negotiate their own agreements with plaintiffs. The eXp settlement resolves pending litigation in similar cases, including Gibson/Umpa, which targets major players like Compass and Redfin.