Redfin
has
joined
the
growing
list
of
real
estate
brokerages
that
have
settled
the

commission
lawsuits.

In
a

document
filed
with
the


Securities
and
Exchange
Commission
(SEC)
on
Monday,
the
brokerage
announced
that
it
had
reached
a
nationwide
settlement
agreement
on
Friday
with
the
plaintiffs
in
the

consolidated

Gibson
and
Umpa

commission
lawsuits.

As
part
of
the
settlement
agreement,
Redfin
has
agreed
to
pay
$9.25
million
into
a
qualified
settlement
fund
within
30
days
of
the
court’s
preliminary
approval
of
the
agreement.
The
filing
did
not
detail
whether
the
firm
agreed
to
any
business
practice
changes
as
part
of
the
settlement
agreement.

According
to
Redfin,
the
settlement
resolves
all
of
the
claims
in
the
lawsuits
and
releases
the
firm,
its
subsidiaries
and
agents
from
the
claims.
Additionally,
the
firm
noted
that
the
settlement
is
not
an
admission
of
liability
and
it
does
not
“concede
or
validate
any
of
the
claims
asserted
against
us
in
the
lawsuits.”

In
an
emailed
statement,
a
Redfin
spokesperson
wrote
that
the
firm
is
glad
to
have
settled
the
litigation.

“As
the
only
U.S.
brokerage
that
has
saved
consumers
more
than
$1.5
billion
in
fees,
Redfin
never
belonged in
this
litigation,”
the
spokesperson
added.
“We
always
have
been,
and
always
will
be,
advocates
for
transparency
and
saving
consumers
money,
directly
selling
homes
to
buyers
to
bring
down
fees,
and
broadly
publishing
commission
data
so
consumers
understand
how
much
they
are
paying.”

Redfin
joins


Douglas
Elliman,
 Realty
One
Group, At
World
Properties, Anywhere, RE/MAX, Keller
Williams, Compass, HomeServices
of
America and The
Real
Brokerage, in
settling
the

commission
lawsuits
filed
by
homebuyers
and
sellers
that
allege
artificial
inflation
of
agent
commissions.

The National
Association
of
Realtors has
also
reached
a
nationwide settlement of
the

commission
lawsuits.
That
agreement
was
granted preliminary
approval by
the
court
in
late
April.

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