On Thursday, May 9, 2024, settlement agreements for Keller Williams, Anywhere, and RE/MAX received final approval from U.S. District Court Judge Stephen Bough.
The approved settlements resolve all home seller claims against these brokerages and include releases for all affiliated franchisees and agents in the U.S.
As part of their settlements, each firm will make agreed-upon changes to their business practices, along with the following payouts:
- Anywhere: $83.5 million
- RE/MAX: $55 million
- Keller Williams: $70 million
All three brokerage firms are pleased with the ruling:
I am pleased the court has granted Anywhere final approval of our nationwide settlement. This is a significant milestone on our path to put these claims behind us, begin to implement agreed upon practice changes, and move forward with our affiliated agents and franchisees as, together, we continue helping home buyers and sellers move to what’s next.
Since entering into the settlement last fall, RE/MAX has been committed to obtaining final approval. We are thrilled to be leading the way in moving forward, maintaining our focus on supporting RE/MAX affiliates and continuing to foster greater transparency in the industry on behalf of homebuyers and sellers.
We are pleased to hear of the court’s final approval of our settlement. We will continue to focus on what we do best: empowering real estate entrepreneurs so they can deliver exceptional value to their clients.
According to a press release from Anywhere, releases from claims made by home seller plaintiffs will not eliminate pending litigations from home buyers. This is possibly a result of yesterday’s motion filed by the home buyer plaintiffs in the Batton 1 lawsuit and their testimony during today’s hearing.
But they will reduce the size of potential (as yet uncertified) buy-side class by nullifying claims for buy-side damages for individuals who sold as well as purchased homes and are covered by the Anywhere settlement.
Stay tuned as we learn more.
