Bought a Home Through an MLS? A $120 Million Settlement Has an Oct. 27 Claim Deadline

People who bought a home listed on a Multiple Listing Service may be eligible for money from a $120.3 million antitrust settlement - but only if they fit the settlement class and file a valid claim by Oct. 27. The final payment amount is not known yet and will depend partly on how many valid claims are submitted.

The Settlement Covers Buyers, Not Every Home Sale

The settlement website defines the class as people who purchased a home listed on an MLS in the United States during applicable class periods and where a commission was paid to a brokerage in connection with the transaction. Certain exclusions apply, and separate home-seller settlements are not the same case.

The defendants deny violating the law. The combined settlement fund totals $120,334,500, but the court has not decided that the defendants did anything wrong.

The Deadline Is What Creates the Money Decision

A class member who wants a payment must submit a claim online or have a mailed claim postmarked by Oct. 27. Doing nothing leaves a person bound by the settlement release if they are in the class, but it does not produce a payment.

There are earlier Sept. 17 deadlines for people who want to opt out or object. Those options serve different legal purposes from filing a claim.

No One Can Honestly Tell You the Payout Yet

The settlement administrator says individual payments will be calculated under an allocation plan after valid claims are counted. The amount can vary based on factors such as the number of properties purchased and commissions associated with those transactions.

That means the $120.3 million fund should not be divided by a guessed number of claimants to create an estimated check. The final value of each claim remains unknown.

The Final Approval Hearing Comes After the Claim Deadline

A final approval hearing is scheduled for Nov. 2. Claims still must be filed by Oct. 27 even though the court hearing comes later.

For anyone who bought an MLS-listed home during the covered periods, the useful question is not whether the settlement is large. It is whether the transaction falls inside the class before the filing window closes.

References: Homebuyer Antitrust Class Action Settlement | Homebuyer Antitrust Settlement Frequently Asked Questions