Settlement Impacting Real Estate Sales and Commissions Announced
Understanding the Recent Settlement Regarding Real Estate Commissions
This article discusses an important development involving real estate sales and commission payments. The Kroll Settlement Administration has unveiled a settlement related to the case known as Nosalek v. MLS Property Information Network. This settlement could significantly affect homeowners who have sold properties listed on the MLS Property Information Network and paid commissions to real estate agents.
Background of the Lawsuit
The lawsuit alleges that MLS Property Information Network, Inc. (MLS PIN), alongside other entities, engaged in practices designed to inflate commission rates paid by sellers to buyer-brokers. These actions were purportedly in violation of antitrust laws, specifically Section 1 of the Sherman Act. While MLS PIN denies any wrongdoing, this proposed settlement aims to resolve the claims against them. However, it does not affect the claims against other defendants, which may be addressed in future settlements.
Who Qualifies as a Settlement Class Member?
Individuals may qualify as members of the Settlement Class if, since December 17, 2016, they listed residential real estate on MLS PIN's Pinergy service via a Seller Broker and paid a Buyer-Broker Commission. Definitions of capitalized terms can be found in the Settlement Agreement, which is accessible through the official settlement website.
Benefits of the Settlement
The settlement includes a financial provision of $3.95 million, which will be distributed to qualifying Settlement Class Members who submit valid claims. The distribution will occur on a pro-rata basis, calculated according to the sale price of each member's real estate as recorded in MLS PIN’s system. This fund will be allocated after accounting for legal fees, administrative costs, and other associated expenses.
Changes to MLS PIN's Practices
In addition to the financial compensation, MLS PIN has agreed to amend its rules and practices to remove the alleged anti-competitive restrictions. If the settlement gains approval, homeowners will benefit from these important changes, leading to a more equitable real estate process.
Rights and Responsibilities of Class Members
All eligible individuals are automatically included in the Settlement once it is approved. However, they must submit a claim to receive benefits. The deadline to file a claim form is December 15, 2025. Those wishing to object to the Settlement or challenge the plaintiff's legal fees can submit their objections by September 2, 2025. Comprehensive instructions for the claims process are available on the settlement’s official website.
Upcoming Final Approval Hearing
A Final Approval Hearing is scheduled for September 29, 2025, in the U.S. District Court for Massachusetts. This hearing will determine the fairness of the settlement and will address any objections raised. Class Counsel plans to request attorneys' fees and potential service awards to class representatives as part of the proceedings.
Accessing Further Information
For additional details, including the complete Settlement Agreement, notices, and essential documents, individuals are encouraged to visit the official website or reach out to the settlement administration directly. These resources provide guidance on how to navigate the claims process and any other related inquiries.
Frequently Asked Questions
What is the key issue of the lawsuit?
The lawsuit addresses allegations that MLS PIN conspired to inflate commissions paid by sellers to buyers in violation of antitrust laws.
Who can file a claim under this settlement?
Individuals who listed residential real estate on MLS PIN's service and paid a Buyer-Broker Commission since December 2016 may file a claim.
What are the financial implications of the settlement?
The settlement includes a $3.95 million fund to be distributed among valid claimants based on the sale price of their properties.
How can one object to the settlement?
Objections can be filed by September 2, 2025, with specific instructions available on the settlement website.
When will the Final Approval Hearing take place?
The Final Approval Hearing is set for September 29, 2025, where the court will review the settlement's fairness.
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