In the aftermath of the Sitzer/Burnett jury verdict, eXp Realty and Weichert chose not to settle the Gibson suit but engaged in negotiations with the Hooper plaintiffs in Georgia. This led to allegations from the Gibson plaintiffs that the brokerages participated in reverse auctions for settlements, which they found unsatisfactory in amount. eXp plans to settle for $34 million and Weichert for $8.5 million, but the Gibson plaintiffs contend these figures are too low, raising concerns about fairness and potentially collusive practices in settlement negotiations. The situation escalated with motions filed regarding settlement approvals and judicial recusal.
eXp and Weichert faced allegations of collusion in settling commission lawsuits, with Gibson plaintiffs claiming the settlements were far too low compared to potential damages.
The negotiation tactics of eXp and Weichert have come under scrutiny, as the Gibson plaintiffs raise concerns over their settlements being reached during reverse auction processes.
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