Get Your Real Estate Settlement Payout

Liar Loan

Liar Loan

Well-known member
So it was big news that realtors have finally been held liable for ripping off home sellers with their shady practices. In effect, realtors have been acting as a cartel by coercing sellers to pay the buyers' commissions. We all know that if you offer a 0% buyers commission, the realtors lacking morals (virtually 100% of them) will not bring their clients to view your listing.

Not only has this landmark ruling led to a fundamental shift in how realtors will be compensated going forward (forcing them to charge buyers instead of sellers for their outrageous fees), but those of us that were wronged by this immoral behavior, are entitled to compensation for our suffering.

If you sold a home on the California Regional Multiple Listing Service between October 31, 2019 through February 1, 2024 you are eligible for the Keller Williams settlement, and between February 1, 2020 through February 1, 2024 you are elible for the Anywhere and RE/MAX settlement. You do not need to have sold a home using an Anywhere, RE/MAX, or Keller Williams agent to make a claim.

Here is the website for information/FAQ's about the settlement: https://www.realestatecommissionlitigation.com/faq

And here is the website for submitting a claim: https://secure.realestatecommissionlitigation.com/

All claims must be submitted by 5/9/2025.
 
$208,500,000 is the benefit pool (as per website) Assume the attorney's get 30% with fees and taxes taking another $10m off the top.

If 100,000 people apply, the net net benefit sometime in 2026 is around $1,300 or so to each claimant.

Will this penalty change anything for the better when it comes to home buying or selling? I don't really see that happening. What may be the case is this: Any seller wanting to zero out a buyers agent commission just won't get the showings they expect, compelling the seller after a few weeks on the market to reinstate the usual 2x percent buyers agent commission just to get showings. From what I've read so far, the lawyers in these class actions suits pushed this fairy tale about how buyers would pay their agents commissions and home prices would fall accordingly. Neither of these scenarios are based in reality. These lawsuits were a simple cash grab that luckily were defended by inept lawyers for NAR, KW, Anywhere, and Re/Max. They folded like a cheap suit, causing significant confusion in the industry, all of which will clear up soon and be back on track with zero benefit to the "harmed" consumer.
 
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sgip said:
$208,500,000 is the benefit pool (as per website) Assume the attorney's get 30% with fees and taxes taking another $10m off the top.

If 100,000 people apply, the net net benefit sometime in 2026 is around $1,300 or so to each claimant.

Will this penalty change anything for the better when it comes to home buying or selling? I don't really see that happening. What may be the case is this: Any seller wanting to zero out a buyers agent commission just won't get the showings they expect, compelling the seller after a few weeks on the market to reinstate the usual 2x percent buyers agent commission just to get showings. From what I've read so far, the lawyers in these class actions suits pushed this fairy tale about how buyers would pay their agents commissions and home prices would fall accordingly. Neither of these scenarios are based in reality. These lawsuits were a simple cash grab that luckily were defended by inept lawyers for NAR, KW, Anywhere, and Re/Max. They folded like a cheap suit, causing significant confusion in the industry, all of which will clear up soon and be back on track with zero benefit to the "harmed" consumer.
Click to expand...
That's exactly what I was thinking when the news broke originally but maybe there are other areas of the country where homes are not high like here where sellers were actually routinely paying 6% and not the reduced % like here. It's easier to reduce a commish on a high priced home than something that isn't really going to bring that realtor much. There are areas where I have wondered why anyone would want to even be a realtor with what they get with that standard commish.

I think more than 100K will apply which means even less to the claimants.
 
I think I qualify for at least 1 or 2 sales. Gonna go dig up the paperwork.

Whatever I might receive is a paltry sum compared to the missed equity gains though. ;p
 
You should apply.

I got $700 from some class action which I was just screwing around.
It was for some kind of data breach @ Capital One.

It was an email with money loaded into a virtual debit card...I thought "what is this scammy shit"....but it ended up being real as I used it on amazon.
 
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