Four real estate agents in North Carolina have filed a class-action lawsuit against Coldwell Banker’s largest franchisee, alleging that it pocketed commission fees intended for the franchisor. The complaint alleges that Wilmington-based Coldwell Banker Seacoast Advantage retained millions of dollars in real estate commissions owed to both current and former agents. Coldwell Banker, a part of Anywhere (formerly Realogy) allegedly reduced its franchise fees “years ago” to “as low as three percent” for it’s largest franchisees but, Coldwell Banker Seacoast Advantage continued to charge its agents the full 6% fee, claiming it went to Coldwell Banker. The lawsuit claims this altered commission splits and materially changed agreed-upon terms. Seacoast denies the allegations and says it intends to defend itself vigorously.
