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Redfin Settles Federal Lawsuits for $9.25M Over Inflated Commissions

May 8, 2024, 03:35 AM

Technology-powered real estate brokerage Redfin has agreed to pay $9.25 million to settle federal lawsuits alleging that U.S. homeowners faced artificially inflated broker commissions due to longstanding real estate industry practices. This settlement is part of a broader series of legal actions involving the National Association of Realtors (NAR) and other brokerages, which collectively approach a total of $1 billion in settlements. The lawsuits accused Redfin and others of conspiring to inflate commissions paid by home sellers. HomeServices of America also agreed this month to pay $250 million to resolve similar allegations.