Dallas-based United Real Estate has joined the cohort of brokerage defendants who have settled the commission lawsuits.
On Tuesday, United Real Estate announced that it had reached a nationwide settlement in the Gibson commission lawsuit. As part of the settlement, United will pay $3.7 million into a settlement fund. The brokerage said it has also agreed to adhere to certain business practice changes, which are not being disclosed at this time.
The company said in a statement that the settlement was the “best course of action as it will save United Real Estate significant legal fees and allow the company to move forward.”
The settlement is still subject to court approval, but the firm said it includes the release of United’s related entities and franchisees from the claims brought by the Gibson plaintiffs — as well as any similar legal actions — on a nationwide basis.
Additionally, United noted that it continues to deny the allegations made in the Gibson suit and that the settlement in no way acknowledges any wrongdoing.
“We are a 10-plus year positive disruptor in the real estate space,” Dan Duffy, the CEO of United Real Estate Group, said in a statement. “We have always been committed to providing the best support and value for our brokers and agents. This settlement allows us to focus on empowering agents with the tools and resources they need to compete and serve their clients with excellence, without the burden of prolonged litigation.”
United Real Estate 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.
The National Association of Realtors has also reached a nationwide settlement of the commission suits. The agreement was granted preliminary approval by a court in late April and is slated for a final approval hearing in late November.
