Engel & Volkers logo and a gavel on a pile of hundred-dollar bills
Illustration by Lanette Behiry/Real Estate News

Engel & Völkers settles in commissions case 

The global brokerage reached an agreement with home sellers last week, according to a court filing.

June 24, 2024
2 minutes

Another large brokerage has chosen to settle with home sellers in the buyer agent commission cases.

In a June 19 filing in the Gibson case in U.S. District Court in Missouri, attorneys for Engel & Völkers announced the settlement but did not disclose the amount the brokerage agreed to pay. A motion was filed for preliminary approval of the proposed settlement.

The brokerage was a defendant in three separate copycat commissions cases brought by sellers in Georgia, New York and Nevada. 

While the Engel & Völkers' settlement details aren't yet known, this latest payout will push the settlement fund closer to the $1 billion mark. To date, the announced damages to be paid by brokerages and the National Association of Realtors total more than $970 million.

Engel & Völkers is a global brokerage franchisor with around 300 real estate offices and more than 5,500 agents in the U.S. According to the company, it has a presence in 35 countries with a global agent count of more than 16,500.

The settlements announced so far

Finalized, but under appeal:

  • Anywhere Real Estate: $83.5 million

  • Keller Williams: $70 million

  • RE/MAX: $55 million

Announced or preliminarily approved:

  • National Association of Realtors: $418 million

  • HomeServices of America: $250 million

  • Compass: $57.5 million

  • Real Brokerage: $9.25 million

  • Realty ONE: Damage total not announced yet

  • @properties: Damage total not announced yet

  • Douglas Elliman: Up to $17.75 million

  • Redfin: $9.25 million

  • Engel & Völkers: Damage total not announced yet

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