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HOMEOWNERS could soon receive a share of a $980 million settlement – and all they need is a piece of paper.
The class-action suit will benefit individuals who sold a home during certain date ranges, and listed their home on a multiple listing service.
Homeowners who sold a home recently could receive a share of a $980 million cash settlement[/caption]
They also must have paid commission to any real estate brokerage in connection to the sale of their home.
If the multiple settlements are approved, class-action members will receive a cash payment if they fill out the paperwork before the May 9, 2025 deadline.
The class action suit claims NAR, HomeServices and other brokerage defendants conspired to require home sellers to pay inflated commissions to brokers or agents representing them.
According to the lawsuit, the conspiracy violated the federal Sherman Act and other antitrust laws.
Other real estate brokerage firms have already entered into proposed settlements, including Anywhere Real Estate, RE/MAX, Keller Williams, Compass, Real Brokerage, Realty ONE, and many more.
While the brokerage groups haven’t admitted any wrongdoing but agreed to an antitrust class action lawsuit settlement, according to Top Class Actions.
HomeServices agreed to pay $250 million, and NAR agreed to pay $418 million.
Between the NAR settlement, the HomeServices settlement, and other settlements reached with additional defendants, there is more than $980 million available for all settlements
The deadline for exclusion and objection to the Settlements with NAR and HomeServices is Oct. 28, 2024.
The final approval hearing for the NAR settlement and Home Services settlement is scheduled for Nov. 26, 2024.
To find out if you are eligible for a payment, visit www.RealEstateCommissionLitigation.com.
The latest lawsuit follows a class-action lawsuit filed in New York in 2018 claimed that women were left “sobbing” after being photographed post-arrest by NYPD officers without their religious coverings.
Two devout Muslim women who brought the complaint forward claimed that they had their hijabs “pushed down around their shoulders” leaving their hair and heads uncovered.
In the Muslim faith, women wear a headscarf in public for modesty and as a sign of devotion to their religion.
One woman was left “humiliated, distraught, and panicked,” according to the lawsuit which added that both of the women had been arrested after abusive family members made “bogus” reports against them.
“This unnecessary and discriminatory policy is out of step with national norms, federal and state law, and the United States Constitution,” the complaint claimed.
In agreeing to pay a $17.5 million settlement, the NYPD has not admitted to any wrongdoing but aims to end ongoing litigation.
Those eligible for a payout must have been arrested by the NYPD and told to remove their religious coverings anytime between March 16, 2014, and August 23, 2021.
For each time an individual was ordered to remove their head covering, a claim for $7,824 can be made.
A higher figure may be paid out depending on how many claims are filed.
However, those who owe money to the New York City Department of Finance in child support liens or others owed to the department may have this amount dedicated from their part of the settlement.
Homeowners can be part of a $2 million settlement if they meet two criteria regarding a home appliance.
Also, beauty lovers could be eligible for a payout from a popular skincare brand over claims it misled customers.
What’s a class-action settlement?
Class action lawsuits offer groups of people, or ‘classes,’ a way to band together in court.
These suits are often brought by one or a few people who allege a company or other entity has wronged a large group of people.
When a suit becomes a class action, it extends to all “class members,” or people who may have similar complaints to those who filed the suit.
Companies often settle class actions – offering payment to class members who typically waive their right to pursue further legal action by accepting money.
These payout agreements frequently include statements by the defendant denying wrongdoing. Companies tend to settle class actions to avoid the costs of further litigation.
Pollution, discrimination, or false advertising are a few examples of what can land a class action on a company’s doorstep.
