Another large brokerage facing a copycat commission lawsuit has settled. Engel & Völkers is the latest brokerage to pay into the settlement pool, which is nearing a billion dollars.
The settlement details are still undisclosed. The brokerage filed a preliminary motion of approval in the US District Court of Missouri last week. Engel & Völkers is a defendant in three copycat lawsuits filed in New York, Nevada, and Georgia.
About the Brokerage
Engel & Völkers is an international brokerage with presence in over 1,000 offices in more than 35 countries.
It employs over 16,500 people.
Settlements Reached Till Now
National Association of Realtors: $418 million
HomeServices of America: $250 million
Compass: $57.5 million
Real Brokerage: $9.25 million
Douglas Elliman: $17.75 million
Redfin: $9.25 million
@properties: Not disclosed
Realty One: Not disclosed
Engel & Völkers : Not disclosed
Final approval for the above settlements is scheduled in November. If granted, the total settlement amount would be north of a whopping $1 billion.
Final Approval Received
Anywhere Real Estate: $83.5 million
Keller Williams: $70 million
RE/MAX Holdings: $55 million
