Headquartered in Dallas United Real Estate has joined the ranks of brokerage defendants that have reached settlements with commission lawsuits.
On Tuesday, United Real Estate announced it had reached a national settlement in the Gibson Commission lawsuit. As part of the settlement, United will pay $3.7 million into the settlement fund. The brokerage said it also agreed to comply with certain changes to its business practices, which it has not yet disclosed.
The company said in a statement that the settlement was “the best course of action as it will save United Real Estate significant legal fees and allow the company to move forward.”
The settlement remains subject to court approval, but the company said it includes insulating United’s related entities and franchisees from claims filed nationwide by Gibson’s plaintiffs and any similar legal action.
Additionally, United noted that it continues to deny the allegations in Gibson’s lawsuit and that the settlement in no way admits any wrongdoing.
“We have been a positive disruptor in real estate for more than a decade,” United Real Estate Group CEO Dan Duffy said in a statement. “We remain committed to providing our brokers and agents with Best support and value. This settlement allows us to focus on providing agents with the tools and resources they need to excel and serve their clients without the burden of lengthy litigation.
United Real Estate Franchise Douglas Elliman, First Real Estate Group, In World Real Estate, anywhere, weight/maximum, Keller Williams, compass, american family services and real brokerage Settlement of Commission Proceedings.
this National Association of Realtors A nationwide commission lawsuit settlement has also been reached. The agreement received preliminary court approval at the end of April, with a final approval hearing scheduled for the end of November.
