Shortly after Keller Williams Realty’s $20 million settlemen in the Batton antitrust home-buyer commission lawsuit, REMAX has agreed to pay $8.5 million into the same plaintiffs’ class-action settlement fund. 

The lawsuit, which was filed in 2021, alleges REMAX, Keller Williams, Anywhere Real Estate and the National Association of REALTORS® conspired to fix agent commissions and inflate home prices. 

Keller Williams’ settlement was disclosed at the beginning of February. REMAX is the second of the four defendants to reach an agreement with the plaintiffs. 

A REMAX spokesperson said: “REMAX is pleased to have reached an agreement that will release the company, as well as REMAX sub-franchisors, franchisees and agents, from the remaining claims in the Batton antitrust litigation. Entering into this settlement is a business decision that brings certainty to what has been a long and uncertain situation. Moving forward, REMAX affiliates are able to continue putting buyers and sellers first — without distraction — as they deliver the best experience in real estate.”

The case covers the same allegations as the Sitzer/Burnett lawsuit, but the plaintiffs in Batton were home buyers, not home sellers. Under the terms of the REMAX/Batton settlement, REMAX will pay $1.5 million following preliminary court approval of the agreement, and $7 million upon the court’s final sign-off.  

By agreeing to the settlement, REMAX noted in an SEC filing that “the settlement agreement and any actions taken to carry out the settlement agreement are not an admission or concession of liability, or of the validity of any claim, defense or point of fact or law on the part of any party.”  

“REMAX continues to deny the material allegations of the complaints in the lawsuit. REMAX entered into the settlement agreement after considering the risks and costs of continuing the litigation.”