T
he parties in a Georgia commissions case have reached settlement agreements, with all deals now disclosed. However, the eXp and Weichert settlements remain under scrutiny in another court. The plaintiffs and remaining defendants in the Hooper case announced a combined settlement of $44.05 million on January 8, seeking preliminary approval. The breakdown has eXp paying $34 million, Weichert $8.5 million, Mark Spain Real Estate $800,000, and Atlanta Communities Real Estate $750,000.

    The eXp and Weichert settlements were announced last year but are being challenged by the plaintiffs in the Gibson/Umpa case in Missouri. U.S. District Court Judge Stephen Bough has allowed the Gibson/Umpa plaintiffs to continue pursuing litigation against eXp and Weichert, citing concerns about a potential reverse auction strategy.

    The Hooper filing justifies the eXp and Weichert settlement amounts by comparing them to other previously approved deals. eXp's $34 million settlement is based on its four-year average transaction volume of $124 billion, similar to Compass' $57.5 million settlement based on $204 billion in volume. Weichert's proposed agreement is comparable to settlements reached by HomeSmart and United Real Estate.

    The attorneys in the Hooper case are requesting up to 20% of the $44.05 million in attorney fees, significantly lower than the 33% requested and approved in other cases. This reduction in attorney fees was a point of contention for some settlement objectors.