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Judge Stephen Bough today granted final approval for nine settlements involving Compass, Douglas Elliman, The Real Brokerage, @properties, Redfin, Realty ONE Group, Engel & Völkers, HomeSmart and United Real Estate. The companies will pay $110 million collectively.
Known as the Gibson case filed in U.S. District Court for the Western District of Missouri, the suit targeted NAR’s Participation Rule, which requires listing brokers to make an offer of compensation to buyer brokers in order to submit a listing to a REALTOR®-affiliated MLS.
The court granted preliminary approval of settlements in April, finding the proposed settlements “fair, reasonable and adequate.”
October 31, 2024
