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Redfin To Pay $9.2M To Exit Broker Fee Class Action


May 7, 2024

Redfin disclosed to regulators on Monday that it will pay $9.25 million to end claims that it caused home sellers to pay inflated commissions under rules set by the National Association of Realtors, allowing the company to exit a class action that ensnared several brokerage firms.

The online real estate listings platform told the U.S. Securities and Exchange Commission it had entered into a settlement term sheet last week to resolve allegations that it conspired with NAR by following the rules, making Redfin the latest company to sign deals to leave the litigation after the trade group agreed to pay $418 million earlier this year.

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The plaintiffs are represented by Steve Berman, Nathan Emmons, Jeannie Evans and Rio S. Pierce of Hagens Berman Sobol Shapiro LLP, Michael S. Ketchmark, Scott A. McCreight and Ben H. Fadler of Ketchmark & McCreight PC, Brandon J.B. Boulware, Jeremy M. Suhr and Erin D. Lawrence of Boulware Law LLC, Matthew L. Dameron and Eric L. Dirks of Williams Dirks Dameron LLC, Benjamin D. Brown, Daniel Silverman, Robert A. Braun and Brian E. Johnson of Cohen Milstein Sellers & Toll PLLC, and Marc M. Seltzer, Beatrice C. Franklin, Matthew R. Berry, Floyd G. Short, Alexander W. Aiken and Steven G. Sklaver of Susman Godfrey LLP.

Read Redfin To Pay $9.2M To Exit Broker Fee Class Action.