Re/Max settles lawsuit against competitor eXp Realty

Re/Max has settled a suit it filed against rival eXp Realty successful May.

The Denver-based steadfast had accused Washington-based eXp of “tortious interference with existing contracts,” saying eXp “induced” aggregate Re/Max franchisees to “abandon” their franchise earlier the extremity of the agreed-upon term, and contacted galore others astir doing the same.

The lawsuit, primitively filed successful Denver District Court and aboriginal moved to national tribunal successful Denver, was settled earlier this month.

A Re/Max spokeswoman said successful a connection that the statement “involved a reiteration of eXp policies prohibiting tortious interference.”

“Per the presumption of the agreement, we cannot remark further,” Re/Max said.

In a abstracted statement, meanwhile, eXp CEO Jason Gesing highlighted the information that the statement “does not impact the speech of wealth oregon an injunction.”

“We stay assured successful the eXp Realty concern model, which continues to summation planetary marketplace share,” Gesing said.

Re/Max’s franchise exemplary was cardinal to the dispute. The company, which says it has implicit 135,000 agents, noted successful its suit that its offices are independently owned and operated.

Calling itself the “world’s fastest increasing cloud-based brokerage,” eXp says it has 50,000 agents astir the world. It does not person a franchise model.

Re/Max was represented by attorneys Thomas Austin Olsen, Kathryn A. Reilly and Melissa Lawson Romero of Wheeler Trigg O’Donnell. The suspect was represented by Janette L. Ferguson, Jeffrey M. Lippa and Jessica P. Marsh of Williams Weese Pepple & Ferguson.

Re/Max besides precocious decided to slim down the quadrate footage of its Denver Tech Center office arsenic the institution embraces flexible enactment arrangements for its employees.