Compass agrees to pay $57.5 million, make policy changes to settle real estate commission lawsuits

Real estate brokerage company Compass Inc. will pay $57.5 million as part of a proposed settlement to resolve lawsuits over real estate commissions. The New York-based company also agreed to change its business practices to ensure clients can more clearly understand how brokers and agents are compensated for their services. That's according to a filing Friday with the Securities and Exchange Commission. Compass follows several big real estate brokerages and the National Association of Realtors in agreeing to settle federal lawsuits brought on behalf of home sellers across the country who claim real estate industry practices unfairly force homeowners to pay artificially inflated agent commissions.