M
ark Spain Real Estate has joined a growing list of brokerages that have settled commission lawsuits with plaintiffs from the Phillips case. The company filed a notice with the U.S. District Court in Atlanta, stating it had reached a nationwide settlement but did not disclose terms or amounts.
As one of the largest real estate firms in the country, Mark Spain Real Estate operates in six states and recorded 8,629 transaction sides worth $2.8 billion in volume last year. The parties involved will seek preliminary approval for their settlement in the coming days.
The Phillips case, filed in November 2023, alleges that industry players colluded to artificially inflate real estate agent commissions. Mark Spain Real Estate's decision to settle follows similar moves by major industry players, including several large brokerages and trade associations.
These companies have settled with plaintiffs from the Phillips case, joining a list of over a dozen other firms that have done so. Despite HousingWire's request for comment, none of the parties involved responded.
