April 8, 2024
What does the settlement mean for Real?
Real has entered into a nationwide settlement agreement to resolve the class action lawsuit in which it was a defendant, Umpa v. NAR. This settlement conclusively addresses the Umpa lawsuit and releases Real, its subsidiaries, and affiliated agents from all claims in the case. The settlement does not constitute an admission of liability by Real, nor does it concede or validate any of the claims asserted in the litigation. The settlement is subject to judicial approval.
What does this mean for Real’s agents?
Real’s agents are covered by the release.
What will the financial impact of the settlement be to Real?
The Company has funds to pay the settlement payment. We do not expect that the settlement payment will have a material impact on operations, and have no plans to change fees or financial terms of our arrangement with agents as a result of the settlement.