Redfin settles fee lawsuit for $9.25 million

red fin joins a growing list of real estate agents making payments. request a lawsuit.

in document submitted to securities and exchange commission (SEC) On Monday, the intermediary announced that it had reached a nationwide settlement agreement with the plaintiffs on Friday. Linking gibson And Oompa request a lawsuit.

As part of the settlement agreement, Redfin agreed to pay $9.25 million into a Qualified Settlement Fund within 30 days of the court’s prior approval of the agreement. The filing did not provide details on whether the company agreed to changes to its business practices as part of the settlement agreement.

Redfin said the settlement resolves all claims in the lawsuit and releases the company, its subsidiaries and agents from claims. Additionally, the company said the settlement is not an admission of liability and “does not constitute an admission or validation of the claims asserted against the company in the lawsuit.”

A Redfin spokesperson said in an emailed statement that the company is pleased to resolve the lawsuit.

“As the only U.S. brokerage firm that has saved consumers more than $1.5 billion in fees, Redfin was never involved in this litigation,” the spokesperson added. “We have always been and will continue to advocate for transparency and saving consumers money, selling homes directly to buyers to reduce fees and helping consumers understand what they are paying. We will make fee data widely available.”

Joined by Redfin Douglas Elliman,Realty One Group,In world properties,anywhere,RE/MAX,keller williams,compass needle,Home American Servicesandreal brokerage,In solving the problem request a lawsuit Lawsuits brought by home buyers and sellers alleging artificial inflation of agent fees.

ofNational Association of RealtorsIt has reached all over the countrysettlementof request a lawsuit.the agreement was grantedprovisional approvalin court in late April.