A
$110 million settlement has been approved by a US court to resolve allegations that several major real estate companies conspired to inflate commission fees. The agreement involves Redfin Corp., Compass Inc., and seven other firms, which have agreed to settle claims they violated antitrust laws. This latest deal brings the total value of related settlements to over $1 billion.
The case centers on accusations that prominent real estate brokerage companies and the National Association of Realtors (NAR) artificially maintained high fees for homes listed through NAR-affiliated multiple listing services. A Missouri jury awarded nearly $1.8 billion in damages last year, finding the NAR played a key role in the alleged scheme.
Redfin has defended its involvement, highlighting efforts to reduce consumer costs and noting it has saved clients over $1.6 billion in fees to date. The company stated it "never belonged" in the case and is glad to have resolved it.
Other companies involved in the settlement include Real Brokerage Inc., Realty ONE Group, At World Properties, Douglas Elliman, Engel & Völkers, HomeSmart, and United Real Estate. While some parties questioned the deal's fairness and adequacy, the settlement moved forward despite these concerns.
The approval marks a significant point in the broader legal battle over real estate commissions. The case continues to be closely watched, with potential implications for how brokerage fees are set and regulated.
