eXp Realty
October 31, 2023
eXp World Holdings, Inc., parent of eXp Realty, was named as a defendant in a proposed nationwide class action filed October 31, 2023 in the U.S. District Court for the Western District of Missouri. Plaintiffs Don Gibson, Lauren Criss and John Meiners sued the National Association of Realtors along with eXp, Compass, Redfin, Weichert Realtors, United Real Estate, Howard Hanna Real Estate Services and Douglas Elliman.
The complaint alleges the defendants conspired to require home sellers to pay the broker representing the buyer, and to pay inflated amounts, through NAR's Mandatory Offer of Compensation Rule, which brokerages allegedly adopt and enforce by requiring or encouraging their agents to belong to NAR and follow its rules. The proposed class covers people who listed homes on a multiple listing service with an agent affiliated with one of the corporate defendants and paid a buyer-broker commission since October 31, 2019. The plaintiffs seek treble damages under federal antitrust law, injunctive relief and attorneys' fees.
The suit was filed the same day a federal jury in Kansas City found NAR and several large brokerages liable in a separate commission case. eXp later agreed in 2024 to a 34 million dollar settlement to resolve commission claims against it. eXp Realty recruits agents with revenue-sharing and stock incentives tied to agent referrals.