A lawsuit filed by Jeremy Keel and several other plaintiffs, including notable names from the real estate industry, accuses numerous real estate brokerages and MLS entities of colluding to inflate real estate agent commissions. Following the initial filing, multiple defendants agreed on preliminary settlements, bringing the current total to over $11 million. Affected parties include anyone who sold a home with commission involvement from Oct. 31, 2019, onward. A final approval hearing is set for June 24, indicating a broader trend of scrutiny on commission structures in real estate transactions.
The Sibcy Cline Settlement is materially the same as all other settlements in this case that the Court approved, emphasizing a collaborative resolution among involved parties.
The lawsuit alleges that defendants colluded to artificially inflate real estate agent commissions, following a pattern established in previous commission lawsuits in the industry.
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