Newly ID’d opt-ins will add $30 million to NAR settlement fund 

A new filing identified more than two dozen non-Realtor multiple listing services and brokerages that have opted in to the NAR settlement, adding nearly $30.6 million to the settlement fund.

The details: The plaintiffs in the Sitzer/Burnett case filed for preliminary approval of opt-in settlements from 15 non-Realtor MLSs and 13 real estate brokerages that chose to opt-in to the settlement offer. The court document for these opt-ins was filed on Sept. 30.

To opt-in, the organizations had to agree to make additional monetary payments based on a formula and make certain practice changes as well as provide cooperation to ongoing litigation. The deadline to opt-in was June 18.

The MLS list: The 15 non-Realtor MLSs in total agreed to pay more than $6.2 million in fines, according to the court document.

• Alaska MLS, which will pay $238,800 into the settlement fund

• BAREIS ($736,800)

• Central Virginia Regional MLS ($100,000)

• MetroList ($2,280,100)

• Minot MLS ($26,300)

• MiRealSource ($100,000)

• MLS Exchange ($361,300)

• Real Estate Information Network ($934,100)

• Richmond MLS ($15,700)

• SE Alaska MLS ($19,000)

• Southeast Georgia MLS ($16,800)

• Spanish Peaks MLS ($15,700)

• UNYREIS ($250,000)

• West Penn Multi-List ($895,000)

• WNYREIS ($250,000)

The brokerage list: The 13 brokerages that opted-in will pay in total more than $24.3 million, according to the court document.

• Fathom Holdings ($2.95 million)

• Key Realty, Ltd. ($375,000)

• Michael Saunders & Company ($1.2 million)

• Pinnacle Estate Properties, Inc. ($725,000)

• Rose & Womble Realty Company ($100,000)

• Brown Harris Stevens ($2.9 million)

• Shorewest Realtors, Inc. ($6,923,153)

• Silvercreek Realty Group ($350,000)

• The Agency ($3.75 million)

• Vanguard ($2 million)

• Watson Realty Corp. ($1,35 million)

• McGraw Davisson Stewart LLC ($800,000)

• Downing-Frye Realty, Inc. ($925,000)

According to the court documents, the original $418 million NAR settlement is now up to $448,587,754 when including the opt-ins. Combined with the other settlements, the total is more than $980 million.

The plaintiffs are requesting that the final approval of the opt-in settlements be addressed at the Nov. 26 final hearing on the NAR settlement.