Opendoor dropped from Nevada commissions lawsuit
The Whaley case had been the only major copycat lawsuit to name the company as a defendant.
Opendoor, the leading real estate iBuyer, was dismissed from the only commissions lawsuit that had included the company as a defendant.
On Wednesday, attorneys in the Whaley case dismissed Opendoor, without prejudice, from its class action lawsuit in the U.S. District Court in Nevada.
It's likely a welcome reprieve for Opendoor. The company took a major financial hit in 2022 but managed to stem losses in 2023, and in 2024 is focused on "rescaling the business … in a sustainable way," CEO Carrie Wheeler said in February.
No other iBuying companies have been pulled into the many commissions cases.
Case details: The Whaley case, filed in January, is one of more than 20 copycat lawsuits brought by homesellers following the Burnett/Sitzer verdict.
There are more than two dozen defendants listed, including the National Association of Realtors, Las Vegas Realtors, Greater Las Vegas Multiple Listing Service and several major brokerage firms including Redfin, eXp and Keller Williams.
Opendoor's role: The original complaint didn't directly tie Opendoor to the class representative, a Nevada homeseller who sold a property in the Las Vegas area for $805,000 in April 2022. The listing agent was Evolve Realty and the buyer was represented by Simply Vegas. As a part of the sale, the seller paid a commission of 5%, of which 3% went to the buyer agent.
In requesting class action status, the complaint asked that all homeowners who had their home sold with one of the defendants on a Nevada MLS in the past six years be included.
Real Estate News has reached out to Opendoor for comment.