#Class Action #Canada #RE/MAX #Real Estate #Ontario

Overview of the RE/MAX Class Action Settlement

A significant class action settlement has emerged involving RE/MAX Ontario-Atlantic Canada Inc. This pertains to individuals who sold residential property on a multiple listing service (MLS) after March 11, 2010. If you engaged in real estate transactions during this period, your rights and potential benefits from the settlement may be critical to your financial recovery.

Background of the Class Action

The case arose from allegations concerning the brokerage commissions charged to residential sellers. The core of the issue revolves around practices that may have unfairly impacted the commissions sellers were required to pay. As the lawsuit moved through the court system, it was determined that a substantial settlement was necessary to address the claims of those affected.

Key Settlement Details

1. Monetary Relief: RE/MAX has agreed to pay $7.8 million as part of the settlement. This fund is intended to provide financial relief to those who are part of the class.
2. Ongoing Legal Support: In addition to the monetary compensation, RE/MAX will cooperate in the ongoing litigation against other non-settling defendants. This indicates that the resolution is not just a matter of financial compensation, but also about holding others accountable in the industry.
3. Changes in Practices: Importantly, the settlement requires RE/MAX to reform its operational practices moving forward. Specifically, they will no longer mandate their franchisees and affiliated brokers to join real estate boards or adhere to rules that were alleged to result in damages claimed in these proceedings. This reform could have a lasting impact on how real estate transactions are handled in the future.

Implications for Class Members

For those who sold property between March 11, 2010, and July 31, 2025, a class has been defined that includes not only those currently residing in Canada but also sellers from abroad. This broad inclusion statement underscores the extensive reach of the lawsuit, highlighting the importance of individual awareness of their class membership.

Opting Out

Individuals who do not wish to participate in this class action settlement must be aware of their right to opt-out. To do so, an opt-out form must be submitted by September 22, 2025. Failure to opt-out means individuals will be subject to the terms of the settlement and any judgment against the remaining defendants in the class action.

How to Opt Out

For those interested in opting out, further instructions on obtaining the opt-out form can be found on CanadaRealEstateClassAction.ca. This provides a crucial opportunity for those who may not want to be bound by the ongoing proceedings or the terms established in the settlement.

Upcoming Court Approval Hearing

The proposed settlement is slated for review by the Federal Court on October 6, 2025. During this hearing, the court will not only confirm the settlement but will also consider various financial requests, including those from Class Counsel for fees totaling C$2.34 million, which represents approximately 30% of the settlement fund. This hearing will be pivotal in determining the final structure of the settlement process.

Conclusion

The RE/MAX class action settlement represents a significant shift in the landscape of residential real estate transactions in Canada. For individuals who have engaged in the market since 2010, understanding your rights and options regarding this settlement is crucial. Ensure that you stay informed, as the outcomes of the upcoming hearing and the final settlement details could directly affect your financial standing and future transactions. If you have questions or require further information, consider reaching out to the settlement administrator at the provided email address: [email protected]

This situation may seem complex, but being proactive about your legal rights can help you navigate this significant development in the real estate sector.