Real Brokerage Agrees To $9.25 Million Commission Suits Settlement

The Real Brokerage Inc. announced that it has entered into a settlement agreement to resolve the pending class action litigation known as Umpa on a nationwide basis. Under the agreement, which is pending court approval, the company will pay $9.25 million.

According to Real, the settlement conclusively addresses all claims asserted against the company lawsuit, releasing Real, its subsidiaries, and affiliated agents from these claims. The settlement does not constitute an admission of liability by Real, nor does it concede or validate any of the claims asserted in the litigation.

Real has committed to paying into a qualified settlement fund within 30 days following the court’s preliminary approval. The company says it does not foresee the settlement terms having a material impact on its future operations.

Additionally, Real has agreed to implement specific changes to its business practices, including clarifications about the negotiability of commissions, prohibitions on claims that buyer agent services are free, and the inclusion of listing broker compensation offers in communications with clients.