Judge approves $418 million settlement against real estate group
Nov 27, 2024
(CNN)– A federal judge gave final approval to a settlement that will have a big impact on the real estate industry.
Groups of home sellers brought lawsuits against the National Association of Realtors for its standard commission structure, saying it was a violation of antitrust laws.
The real estate trade group reached a deal to settle back in March.
A judge granted preliminary approval to the agreement in April and final approval was on Tuesday.
The $418 million settlement also includes rule changes related to agent commissions which took effect in August.
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