Americans who sold homes can claim one-time payment from $730 million pot – 2 documents you need to qualify for cash

ANYONE who has sold a home in the last seven years in the US with the help of a real estate broker may be eligible for a slice of a $730 million settlement.

Requesting a payout is as easy as meeting the basic qualifications and submitting just one simple claim form.

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Arbitrators settled the class action lawsuit against American Multiple Listing Service providers just last month, costing major players in the industry tens of millions of dollars.

An MLS is a group of real estate agents that shares information on available properties to facilitate sales and raise commissions.

The businesses were accused of creating a monopoly on the real estate market that allowed them to artificially inflate commission fees — against antitrust laws, according to the class-action lawsuit .

Well-known MLSs in the lawsuit include Compass Inc ., Real Brokerage, and Realty ONE, along with dozens of others not named publicly.

Americans who sold a home with the help of listing their property on any American MLS between October 31, 2017, and July 23, 2024, may be eligible for a settlement payout.

Sellers must be able to prove that they owned and sold a property during that time and that they paid a real estate broker commission fee as part of the process.

The amount of payout that each claimant is eligible for will be a proportionate share of each of the settlement funds involved in the lawsuit.

THE FINE PRINT

Sellers who believe they are owed cash must submit a claim form with the required evidence to participating lawyers before May 9, 2025, to qualify.

Claimants who submitted grievances against any of the defendants in the past do not need to file additional paperwork to be part of the settlement group.

Other MLSs that were specifically named in the lawsuit include:

• At World Properties LLC
• Douglas Elliman
• Redfin
• Engel & Völkers
• HomeSmart
• United Real Estate

The aforementioned companies are responsible for about $110 million of the settlement, which totals over $730 million when all liable MLSs are accounted for.

Any claimant who qualifies but wishes to opt out of the settlement to follow other legal pursuits must submit their exclusion request by October 3, 2024.

The final hearing for the settlement is scheduled for October 31, 2024.

A SIMPLE SETTLEMENT CLAIM

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.

The number of claimants expected in this lawsuit is unknown, but likely to be high due to the broad eligibility group.

Anyone who can prove that they meet the following three qualifications might qualify for a slice of the multimillion-dollar settlement:

• Sold a home between October 31, 2017, and July 23, 2024
• Listed that home on an MLS anywhere in the United States
• Paid a commission to a real estate brokerage firm for the sale

Evidence to back up the claim is as easy as providing the closing documents for the home sale, reflecting the sale date and amount of brokerage fees paid.

More information about the lawsuit and settlement claims can be directed to the Real Estate Commission Ligitation website set up for the case.

Prosecutors have yet to reveal an expected date that eligible claimants can expect delivery of their payouts.