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Just a day after news broke of an appeal over the National Association of Realtors’ antitrust settlement, another appeal in a different-but-similar case is challenging deals involving Compass, Douglas Elliman and other high-profile companies.
The appeal was filed Tuesday in a case known as Gibson, which was the first of the so-called copycat lawsuits that began in the wake of last year’s jury verdict against NAR and major franchisors. James Mullis, a homeseller who is a plaintiff in two other antitrust cases, filed the appeal.
Mullis’ appeal to the Eighth Circuit Court of Appeals, challenges the final approval of settlements involving Compass, The Real Brokerage, Realty ONE Group, At World Properties, Douglas Elliman, Redfin, Engel & Volkers, HomeSmart Holdings and United Real Estate. Collectively, those companies agreed to pay $110 million as part of their settlements, with Compass paying the largest individual sum of $57.5 million.
The companies received preliminary approval for their settlements in April, followed by final approval — the thing Mullis is now challenging — on Oct. 31.
Mullis previously filed an objection to the settlements with the intent of excluding buyer claims from the deals.
The new appeal follows a similar move in a case known as Sitzer | Burnett. In that suit, a limited liability company called Spring Way Center and several individual homesellers have appealed the final approval of a settlement involving NAR, HomeServices of America and other companies. The Sitzer | Burnett settlement arguably has the highest profile among the many recent antitrust commission deals because it led to NAR making a variety of changes to the way real estate agents practice business.
In addition to those two recent appeals, homesellers over the summer appealed the final approval of settlements involving Anywhere, Keller Williams and RE/MAX.
Still more appeals are also sure to follow. For instance, on Monday Tanya Monestier — a law professor at the University at Buffalo and a critic of the settlements — filed a court document stating that she too intends to appeal the NAR settlement.
The large number of plaintiffs in other cases, as well as a variety of ongoing legal disputes across various suits, suggests the battle over agent pay is far from over.
