By Dean Seal Re/Max Holdings has agreed to pay $55 million to resolve two class action lawsuits challenging a rule that requires home sellers to pay...
Re/Max Holdings has agreed to pay $55 million to resolve two class action lawsuits challenging a rule that requires home sellers to pay commissions to brokers that represent the buyers of their homes.
Re/Max said the settlement isn't an admission of liability or a concession of the validity of any claims in the litigation, and that it continues to deny the suits' allegations. A spokesperson for Re/Max didn't immediately respond to a request for more information on the settlement. Co-defendant Anywhere Real Estate, formerly known as Realogy Holdings, reached a deal earlier this month to exit the pair of lawsuits by paying $83.5 million in damages. The other co-defendants are HomeServices of America and Keller Williams Realty.
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