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MADISON, N.J., May 9, 2024 /PRNewswire/ — Anywhere Real Estate Inc. (NYSE: HOUS) (“Anywhere”), a global leader in residential real estate (formerly known as Realogy Holdings Corp.), today announced the Company has received final court approval of its nationwide agreement to settle all claims asserted or which could have been asserted by class members against Anywhere in the Burnett, Moehrl, and Nosalek antitrust class action litigation. The nationwide settlement releases the Company, all subsidiaries, brands, affiliated agents, and franchisees and their agents from ongoing and future litigation surrounding the antitrust claims.
“I am pleased the court has granted Anywhere final approval of our nationwide settlement,” said Ryan Schneider, Anywhere chief executive officer and president. “This is a significant milestone on our path to put these claims behind us, begin to implement agreed upon practice changes, and move forward with our affiliated agents and franchisees as, together, we continue helping home buyers and sellers move to what’s next.”
In the settlement, which was first announced in October 2023, Anywhere agreed to provide monetary relief of $83.5 million as well as injunctive relief requiring practice changes in Anywhere Advisors, the Company’s owned brokerage operations, which includes Coldwell Banker Realty, Corcoran, and Sotheby’s International Realty, for a period of five years. Anywhere has also agreed to recommend and encourage these same practice changes to its independently owned and operated franchise network across the Better Homes and Gardens® Real Estate, CENTURY 21®, Coldwell Banker®, Corcoran®, ERA®, and Sotheby’s International Realty® brands.
The settlement is not an admission of liability, nor does it concede or validate any of the claims asserted against Anywhere.
The releases by the sell-side class members will not eliminate the pending buy-side litigation, but will reduce the size of the potential, as yet uncertified, class by eliminating claims for buy-side damages by those individuals who also sold a property and are covered by the Anywhere settlement.
About Anywhere Real Estate Inc.
Anywhere Real Estate Inc. (NYSE: HOUS) is moving the real estate industry to what’s next. A leader of integrated residential real estate services, Anywhere includes franchise, brokerage, relocation, and title and settlement businesses, as well as mortgage and title insurance underwriter minority owned joint ventures. The diverse Anywhere brand portfolio includes some of the most recognized names in real estate: Better Homes and Gardens® Real Estate, CENTURY 21®, Coldwell Banker®, Coldwell Banker Commercial®, Corcoran®, ERA®, and Sotheby’s International Realty®. Using innovative technology, data and marketing products, high-quality lead generation programs, and best-in-class learning and support services, Anywhere fuels the productivity of its approximately 188,300 independent sales agents in the U.S. and approximately 134,200 independent sales agents in 118 other countries and territories, helping them build stronger businesses and best serve today’s consumers. Recognized for 13 consecutive years as one of the World’s Most Ethical Companies, Anywhere has also been designated a Great Place to Work six years in a row, honored on the Forbes list of World’s Best Employers for three years, named one of America’s Most Innovative Companies by Fortune for two years, and featured on the inaugural TIME World’s Best Companies list.
