On July 14, 2018 a
Exhibit,Appendix
was filed
involving a dispute between
Ellyn Berk,
Pamela Goldstein,
Paul Benjamin,
Tony Berk,
and
Houlihan Lawrence Inc.,
for Commercial Division
in the District Court of Westchester County.
Preview
FILED: WESTCHESTER COUNTY CLERK 10/01/2018 05:13 PM INDEX NO. 60767/2018
NYSCEF DOC. NO. 228 RECEIVED NYSCEF: 10/01/2018
EXHIBIT 53
FILED: WESTCHESTER COUNTY CLERK 10/01/2018 05:13 PM INDEX NO. 60767/2018
NYSCEF DOC.
7/3/2018 NO. 228 Descriptions of REBAC RECEIVED NYSCEF: 10/01/2018
Agency |
SEAF
NEWS LOGIN
NATIONAL
ASSOCIATIONof
REALTORS*
REA..TQ R
Of cial Designation
DESCRIPTIONS OF AGENCY
"agent"
There are agents, and then there are agents. Yes, itsounds confusing. That's because the term is often used in a
casual manner, referring to any real estate practitioner.
But agent also refers to someone with whom you've established a formal agency relationship-someone who represents
your best interests in a real estate transaction and owes you fiduciary responsibilities. Agency relationships are usually
established in writing with buyer agency agreements, and require:
loyalty
obedience
disclosure
confidentiality
reasonable care and diligence
accounting
THE BIRTH OF BUYER AGENCY
For many years, real estate was practiced in such a manner that agency relationships were only extended to sellers. Any
real estate agent who brought a buyer to the table was actually working as a sub-agent to the seller.
This all began changing in the 1980s, when buyer agency started gaining momentum in residential transactions. Today,
agency laws still vary from state to state. But even if you live in a state that recognizes buyer agency, you can't assume
that you will automatically receive fiduciary responsibilities from the agent you're working with as a potential home
buyer.
That's why it's vitally important to talk to the agent or broker early in your working relationship about his/her agency
REALTORS®
status. You may also want to consult your state association of to gain a better understanding about agency
laws in your particular state, or contact the agency charged with regulating real estate professionals in your state, often
referred to as the state real estate commission.
http://rebac.net/home-buying/getting-started/descriptions-agency 1/4
FILED: WESTCHESTER COUNTY CLERK 10/01/2018 05:13 PM INDEX NO. 60767/2018
NYSCEF DOC. NO. 228 RECEIVED NYSCEF: 10/01/2018
FILED: WESTCHESTER COUNTY CLERK 10/01/2018 05:13 PM INDEX NO. 60767/2018
NYSCEF DOC. NO. 228 RECEIVED NYSCEF: 10/01/2018
FILED: WESTCHESTER COUNTY CLERK 10/01/2018 05:13 PM INDEX NO. 60767/2018
7/3/2018 Descriptions
of Agency | REBAC
NYSCEF DOC. NO. 228 RECEIVED NYSCEF: 10/01/2018
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Document Filed Date
October 01, 2018
Case Filing Date
July 14, 2018
Category
Commercial Division
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FILED: WESTCHESTER COUNTY CLERK 10/01/2018 05:13 PM INDEX NO. 60767/2018 NYSCEF DOC. NO. 228 RECEIVED NYSCEF: 10/01/2018 EXHIBIT 53 FILED: WESTCHESTER COUNTY CLERK 10/01/2018 05:13 PM INDEX NO. 60767/2018 NYSCEF DOC. 7/3/2018 NO. 228 Descriptions of REBAC RECEIVED NYSCEF: 10/01/2018 Agency | SEAF NEWS LOGIN NATIONAL ASSOCIATIONof REALTORS* REA..TQ R Of cial Designation DESCRIPTIONS OF AGENCY "agent" There are agents, and then there are agents. Yes, itsounds confusing. That's because the term is often used in a casual manner, referring to any real estate practitioner. But agent also refers to someone with whom you've established a formal agency relationship-someone who represents your best interests in a real estate transaction and owes you fiduciary responsibilities. Agency relationships are usually established in writing with buyer agency agreements, and require: loyalty obedience disclosure confidentiality reasonable care and diligence accounting THE BIRTH OF BUYER AGENCY For many years, real estate was practiced in such a manner that agency relationships were only extended to sellers. Any real estate agent who brought a buyer to the table was actually working as a sub-agent to the seller. This all began changing in the 1980s, when buyer agency started gaining momentum in residential transactions. Today, agency laws still vary from state to state. But even if you live in a state that recognizes buyer agency, you can't assume that you will automatically receive fiduciary responsibilities from the agent you're working with as a potential home buyer. That's why it's vitally important to talk to the agent or broker early in your working relationship about his/her agency REALTORS® status. You may also want to consult your state association of to gain a better understanding about agency laws in your particular state, or contact the agency charged with regulating real estate professionals in your state, often referred to as the state real estate commission. http://rebac.net/home-buying/getting-started/descriptions-agency 1/4 FILED: WESTCHESTER COUNTY CLERK 10/01/2018 05:13 PM INDEX NO. 60767/2018 NYSCEF DOC. NO. 228 RECEIVED NYSCEF: 10/01/2018 FILED: WESTCHESTER COUNTY CLERK 10/01/2018 05:13 PM INDEX NO. 60767/2018 NYSCEF DOC. NO. 228 RECEIVED NYSCEF: 10/01/2018 FILED: WESTCHESTER COUNTY CLERK 10/01/2018 05:13 PM INDEX NO. 60767/2018 7/3/2018 Descriptions of Agency | REBAC NYSCEF DOC. NO. 228 RECEIVED NYSCEF: 10/01/2018 LEARN MORE TRAINING4RE.COM Finding a course iseasy when you go to Training4RE.com. Here, you can sort for currently offered courses by topic, location, date, designation affiliationand more. LEARN MORE © 2014-2017 REBAC.net of altor.com® 'rivacy Policy Terms Use http://rebac.net/home-buying/getting-started/descriptions-agency 4/4