The approved settlement resolves the claims asserted against RE/MAX, LLC and releases RE/MAX affiliates on a nationwide basis
DENVER, May 9, 2024 /PRNewswire/ -- RE/MAX, the #1 name in real estate*, received final approval of the settlement agreement in the class action lawsuits known as Burnett, Moehrl and Nosalek, and any similar claims on a nationwide basis. The approved settlement resolves the claims asserted against RE/MAX, LLC and includes releases for all U.S. RE/MAX independent regions, franchisees and agents.
To address the pending litigation and mitigate the uncertainties and costs associated with prolonged legal proceedings, RE/MAX, LLC entered into a settlement agreement with plaintiffs on October 5, 2023. RE/MAX, LLC agreed to pay $55 million and make certain changes to business practices as part of the settlement.
"Since entering into the settlement last fall, RE/MAX has been committed to obtaining final approval," says RE/MAX Holdings CEO Erik Carlson. "We are thrilled to be leading the way in moving forward, maintaining our focus on supporting RE/MAX affiliates and continuing to foster greater transparency in the industry on behalf of homebuyers and sellers."
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