FILE - A new housing development is seen from above, Oct. 12, 2022, in Middlesex Township, Pa. Real estate brokerage company Compass Inc. will pay $57.5 million as part of a proposed settlement to resolve lawsuits over real estate commissions, the company said in a regulatory filing Friday, March 22, 2024. Real estate brokerage company Compass Inc. will pay $57.
The central claim put forth in the lawsuits is that the country’s biggest real estate brokerages have been engaging in business practices that unfairly force homeowners to pay artificially inflated agent commissions when they sell their home. NAR also agreed to several policy changes, including prohibiting brokers who list a home for sale on any of the databases affiliated with the NAR from including offers of compensation for a buyer’s agent.
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