RE/MAX settles buyer broker commission lawsuits for $55 million
“The Settlement resolves all claims in the Lawsuits and similar claims on a nationwide basis against RE/MAX … and releases RE/MAX and the Company, their subsidiaries and affiliates, and RE/MAX sub-franchisors, franchisees and their sales associates in the United States from the Claims,” the SEC filing reads.
“By the terms of the Settlement, RE/MAX agreed to pay a total settlement amount of $55.0 million … into a qualified settlement fund. In addition, RE/MAX agreed to make certain changes to its business practices.”
Brooklee Han for Housing Wire
Once again, if I’m proven right about the lawsuits being settled, I’m going to be unbearable. 😈
How will NAR wrap this up?
If these previous deals are any guide NAR will end up settling very cheaply, without admitting any wrong doing, and with no material effect to their business. Sounds like a good deal to me.