"Real Estate Industry Faces Turmoil: Lawsuits, Settlements, and Commission Changes"
Originally Published 1 year ago — by Inman
Compass has agreed to settle commission lawsuits for $57.5 million, following NAR's $418 million settlement. This makes Compass the fourth major entity to settle, bringing the industry's total settlements to about $684 million. The settlement covers the Umpa v. NAR and Gibson v. NAR cases and includes minor business practice changes. The industry is facing potential impacts on commission structures and client relationships, with a new trade organization in the works in response to dissatisfaction with NAR's handling of the lawsuits.