April 9, 2024
The Real Brokerage Inc. will pay $9.2 million in a settlement to exit a class action in Missouri federal court over broker fees that prompted other big brokerages to change how they charge agent fees.
The Real Brokerage said April 8 it would make changes that clarify buyer agent services are free and address how broker compensation offers are communicated with clients, along with employee training materials that reinforce the changes. The deal is still subject to court approval.
The policy changes follow those agreed to by the National Association of Realtors last month as part of a $418 million settlement in the case.
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The home sellers are represented by Cohen Milstein Sellers & Toll PLLC, Susman Godfrey LLP, Hagens Berman Sobol Shapiro LLP, Boulware Law LLC, Ketchmark & McCreight PC and Williams Dirks Dameron LLC.
Read Real Brokerage $9.2M Settlement Is Latest in Agent Fee Suit.