J
ohn L. Scott and Real Estate One have joined the list of firms reaching deals in the Gibson/Umpa class-action lawsuit, which targets buyer agent commission practices. The settlements continue to pile up as court filings reveal that John L. Scott and Real Estate One have reached agreements with home sellers in Missouri.
The John L. Scott settlement was filed on October 2, but details about the payment amount were not disclosed. However, the parties plan to file a request for preliminary approval soon, which will provide further information. Based in Bellevue, Washington, John L. Scott operates 110 offices across the Pacific Northwest and had over $11 billion in sales volume in 2022.
Real Estate One's filing on October 1 also kept damages under wraps, with plans to file a preliminary approval request at a later date. As a fourth-generation family-owned business based in Michigan, Real Estate One achieved over $6 billion in sales volume last year.
Brokerages exceeding $2 billion in sales volume were initially left out of the NAR settlement but can opt-in or negotiate their own deals with plaintiffs. The combined settlements are expected to push the total fund above $1 billion, with an additional $30 million added this week after multiple non-Realtor MLS and brokerages opted into the NAR deal.
realestate
Two Brokerages Agree to Settle Commission Dispute
John L. Scott, Real Estate One settle in Gibson/Umpa class-action lawsuit.
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realestate
Boston Real Estate Times Honors Top Performers at Prestigious Annual Awards Ceremony
250+ Commercial Real Estate Pros Attend Boston Real Estate Times' Annual Excellence Awards Gala.
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realestate
Luxury Homes Sold in Central New York: Top Transactions October 5-11
Here are the top stories for CNY counties from October 5-11:
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realestate
Lowes Elementary Sold at Real Estate Auction
Tracts 1 & 2 sell for $215,000, below district's $100,000 appraisal.