If you sold a house in the U.S. between October 31, 2017, and July 23, 2024, you might be owed money. A big legal settlement worth $730 million is now being shared with eligible home sellers. This happened because several large real estate companies were accused of charging unfairly high commission fees.
The lawsuit claims that sellers were forced to pay high broker commissions due to a lack of competition. Real estate firms were said to have worked together to keep commission rates fixed at around 5%-6%. Because of this, many sellers ended up paying more than they should have.
Now, many of those companies have agreed to settle. If you paid a commission fee while selling your home during the eligible period, you may be able to file a claim and get some of that money back. Here’s everything you need to know to check if you qualify, what documents you’ll need, and how to file your claim.
What the Lawsuit Was About
This lawsuit is officially named Gibson, et al. v. National Association of Realtors, et al. It claims that several real estate firms broke antitrust laws by working together to control commission rates. The main issue was that home sellers had no real choice but to pay standard commission fees, which were kept high through industry practices.
The lawsuit says:
- Brokerages created rules to stop price competition.
- Sellers could not negotiate lower fees.
- The standard 5%-6% rate stayed high, hurting sellers financially.
Who Can Apply for a Refund?
You may qualify if:
- You sold a home between October 31, 2017, and July 23, 2024.
- The home was listed on a Multiple Listing Service (MLS) in the United States.
- You paid a commission to a real estate broker as part of the sale.
If you’re not sure whether you qualify, it’s a good idea to check your home sale documents for commission payments during that time.
What If You Sold More Than One Property?
If you sold multiple homes during the eligible period, you can file a separate claim for each one. You must have paid a commission for each sale to qualify. More claims could mean a higher refund.
What Documents Do You Need?
To file a claim, you’ll need:
- Closing documents that show the date your home was sold.
- Proof of commission fees paid to the real estate agent or broker.
These records are important to prove your eligibility. If documents are missing, your claim might be delayed or rejected.
How Much Money Can You Get Back?
There is no fixed refund amount for each seller. The payout depends on:
- How many people file claims.
- The total commission fees you paid.
- How the $730 million is split among approved claims.
Based on past settlements, sellers may get back 10%-20% of their original commission. For example, if you paid $20,000 in commission, you might receive $2,000 to $4,000.
Step-by-Step Guide to Claim Your Share
- Check Eligibility
Go to RealEstateCommissionLitigation.com and use the tools there to see if you qualify. - Prepare Your Documents
Find your home sale closing statement and proof of the commission fee you paid. - Submit Your Claim
- Submit your form online or by mail.
- Deadline: May 10, 2025
- Wait for Review and Payout
After the final court hearing, claims will be reviewed and payments will begin.
What Happens After You File?
Once all claims are submitted, a court will review and approve the final settlement. If everything is approved in October 2024, payments will likely be sent out in 2025.
If you’ve already submitted a claim in the past, you don’t need to file again. Your information will still be counted. For updates, check the official website regularly.