Re/Max Canada has confirmed the settlement of two proposed class-action lawsuits challenging real estate commission structures. This marks a significant development in the ongoing legal battle over broker fees in Canada.
Sunderland and McFall allege that rules requiring homesellers to pay buyer brokerage commissions inflate costs and restrict competition. While Re/Max Canada maintains its innocence, the company stated in a REM press release that settling was in the best interest of its brand, franchisees, and sales associates, avoiding the risks and costs of prolonged litigation.
REM has reached out to other defendants named in the lawsuit, including the Canadian Real Estate Association and TRREB, for comment.
The settlement, which includes “substantial” monetary terms and business practice changes, is awaiting court approval. Re/Max Canada has refrained from further comment due to confidentiality agreements and ongoing legal proceedings.
More to come.
Jordana is the editor of Real Estate Magazine. You can reach her by email.
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