James Mullis appealed for final approval of the $110 million settlement. The move suggests the battle over how agents operate and receive compensation is far from over.
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Just a day after news broke of the appeal over the National Association of Realtors’ antitrust settlement, another appeal in a different but similar case challenges deals involving Compass, Douglas Elliman, and other high-profile companies. are.
The appeal was filed Tuesday in the case known as Gibson. The lawsuit is the first in a series of so-called copycat lawsuits that began in the wake of last year’s jury verdict against NAR and major franchisors. James Mullis, a home seller who is also a plaintiff in two other antitrust cases, filed an appeal.
Mr. Mullis has appealed to the Eighth Circuit Court of Appeals and claims that Compass, The Real Brokerage, Realty One Group, At World Properties, Douglas Elliman, Redfin, Engel & Volkers, Home Smart Holdings is objecting to the final approval of the settlement involving United Real Estate. Collectively, the companies agreed to pay $110 million as part of the settlement, with Compass individually paying the highest amount of $57.5 million.
The companies received preliminary approval for the settlement in April and final approval on October 31, which Mullis is currently challenging.
Mr. Maris had previously objected to the settlement in an attempt to exclude the buyer’s claims from the transaction.
The new appeal follows a similar move in the case known as Sitzer | Burnett. In the case, a limited liability company called Spring Way Center and several private home sellers appealed for final approval of a settlement involving NAR, HomeServices of America and other companies. The Sitzer|Barnett settlement is perhaps the most high-profile of the many recent Antitrust Commission transactions, as it resulted in NAR making various changes to the way real estate agents conduct business.
In addition to two recent appeals, home sellers this summer appealed for final approval of a settlement involving Anywhere, Keller Williams, and RE/MAX.
More lawsuits are sure to follow. For example, on Monday, Tanya Monestier, a law professor at the University at Buffalo and a critic of the settlement, filed court documents stating that she, too, intends to appeal the NAR settlement.
The large number of plaintiffs in other cases and the variety of legal disputes currently underway in various cases suggest that the battle over agent compensation is far from over.
Email Jim Dalrymple II
