eXp Agrees to Pay 34 Million to Settle Nationwide Real Estate Antitrust Lawsuits

eXp World Holdings said it signed a settlement term sheet on October 1, 2024, to resolve on a nationwide basis pending commission-related antitrust class actions, including 1925 Hooper LLC v. The National Association of Realtors and related suits in multiple federal courts.

Under the deal, eXp would pay 34 million dollars into a qualified settlement fund and change certain business practices. Half of the cash would be due within 30 business days of preliminary court approval and the rest within a year of the first payment, with funds released from escrow only after final approval. The company said it would fund the settlement from available cash.

The settlement would release eXp, its subsidiaries and affiliates, and their U.S. independent contractor real estate agents from the covered claims. eXp denied the allegations and said the agreement is not an admission of liability. The settlement remains subject to preliminary and final court approval.