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district court judge has approved another round of settlements in the commissions lawsuits, totaling over $20 million. The deals bring relief to several brokerages and MLSs involved in the Gibson and Keel cases. Judge Stephen Bough signed off on final settlement approvals for six brokerages in the Gibson case and nine defendants in the Keel case on June 24.
The damages paid by the 15 real estate companies add to the overall settlement fund, which has now surpassed $1 billion. In addition to monetary payouts, the companies agreed to implement policy changes similar to those mandated by the National Association of Realtors' 2024 settlement.
Approved deals include The Keyes Company and Illustrated Properties; NextHome; John L. Scott; The K Company Realty; Real Estate One; and Baird & Warner in the Gibson case. Side, Seven Gables, Washington Fine Properties, and others settled in the Keel case. Unlike earlier settlements, these approvals were met with little resistance.
The settlement fund currently stands at nearly $1.04 billion, with over 2.5 million claims filed by members of the settlement class. Attorneys noted that the settlement agreements achieve the goals of the litigation and benefit the settlement class.
