Baird & Warner settles in buyer agent commissions suit
The Chicago-area powerhouse filed its agreement in the Gibson/Umpa case on the same day that NAR and HomeServices finalized their settlements.
A month after filing a motion to dismiss in the Gibson/Umpa commissions lawsuit, Baird & Warner has reached a settlement agreement with the home sellers in the case.
The brokerage filed the agreement on Nov. 28, the same day the National Association of Realtors and HomeServices of America received final approval of their settlements totaling nearly $700 million.
Damages not yet disclosed: The filing did not specify how much the brokerage agreed to pay; more details are expected when the plaintiffs file preliminary approval documents. The filing did ask Missouri District Court Judge Stephen Bough, who oversaw Sitzer/Burnett and is currently handling the Gibson/Umpa case, to stay all deadlines and further proceedings while both sides prepare to file the approval forms.
Remaining defendants: Several brokerages have not yet settled in Gibson/Umpa, including eXp, Weichert Realtors, Berkshire Hathaway Energy, Hanna Holdings, Crye-Leike, William L. Lyon & Associates, William Raveis Real Estate and Windermere Real Estate.
Notably, Weichert and eXp reached settlements with plaintiffs in a different commissions case in Georgia, but Bough refused to pause proceedings in Gibson/Umpa for the two brokerages, citing "questionable behavior" surrounding the settlements. The judge said he would allow further discovery into whether a reverse auction occurred, referring to the practice of seeking out plaintiffs who will make a more favorable deal.
Previous arguments: Last month, Baird & Warner filed a motion asking the court to dismiss the case based on a lack of jurisdiction, stating that the company did not engage in any operations in the judicial district. The October filing was the brokerage's second attempt to secure a dismissal after filing a similar motion in July.
About Baird & Warner: Founded in 1855, it is one of the nation's two oldest brokerage firms, according to the T3 Sixty Real Estate Almanac. In 2023, it had more than 2,400 agents and closed more than $6 billion in annual sales.