Millions of homebuyers may be entitled to settlement cash

Bought a home in the U.S. in recent years? You could be eligible for a share of a $28.5 million real estate settlement. Keller Williams and RE/MAX have agreed to pay a combined $28.5 million to settle allegations that real estate companies worked together to keep agent commissions artificially high, potentially making home purchases more expensive.

The companies deny wrongdoing, and the court hasn't found that they violated the law. But if you bought an eligible home, you may still be able to claim some of the settlement money.

Why home commissions are involved

Buying a house already feels like an elaborate financial boss battle. There’s the mortgage, closing costs, inspections, taxes, insurance, and enough paperwork to make your printer question its life choices.

Then there are agent commissions. The lawsuit alleges that major real estate companies, including Keller Williams and RE/MAX, helped maintain rules and practices that limited competition among buyer agents and kept commissions higher than they might have been in a more competitive market.

Plaintiffs also alleged that these practices could steer buyers away from homes offering lower commissions, potentially increasing what some buyers ultimately paid. Keller Williams and RE/MAX deny the allegations. Rather than continue the expensive and uncertain litigation, the companies agreed to settlements totaling $28.5 million. Keller Williams is contributing $20 million, while RE/MAX is putting in $8.5 million.

The case continues against other defendants.

Eligibility is not set in stone

Eligibility depends on where and when you bought the property. Generally, the settlement covers people who purchased residential real estate in the U.S. during the applicable period, provided the home was listed on a multiple listing service, or MLS.

The starting date varies by state. For example, in Texas, eligible purchases generally date back to January 25, 2019, and the eligibility period runs through April 14, 2026. So if you bought a qualifying Texas home during that window, you should look into whether you can file a claim.

And if you bought multiple eligible properties, that's multiple claims. You need to submit a separate claim for each qualifying home.

How much is on the table?

Nobody knows yet. Settlement administrators have not announced a specific payment amount for individual claimants. Your potential payout will depend on several factors, including how many valid claims are submitted, the purchase price of your home, and the buyer-agent commission paid during the transaction.

The deadline is August 25

If you are eligible, you have very little time to decide what to do. Online claims must be submitted by 11:59 p.m. CT on August 25, 2026.

If you are mailing a claim form, it must be postmarked by August 25. You can submit a claim online or mail a completed claim form to the settlement administrator. The official settlement website has the eligibility requirements, claim forms and additional information.

And because settlement scams are very much a thing, you want to make sure you are using the official settlement website rather than handing your personal information to some random website promising to "secure your payout."

Sources: Yahoo Finance, U.S.A. Today