By Sabela Ojea
Real Brokerage received court approval for its $9.3 million settlement to resolve a nationwide class action lawsuit in connection with to its business practices and real estate agents.
The company said on Thursday it doesn't expect the terms of the agreement to have a material effect on its future operations.
When Real first disclosed the settlement in April it agreed to implement changes to its business practices.
The company said it would clarify the negotiability of commission, prohibitions on claims that buyer agent services are free, and the inclusion of listing broker compensation offers in communications with clients.
Real also said it would develop training materials to support its practice changes.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
October 31, 2024 18:20 ET (22:20 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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