On July 14, 2018 a
Trial Materials
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. 230 RECEIVED NYSCEF: 10/01/2018
EXHIBIT 55
FILED: WESTCHESTER COUNTY CLERK 10/01/2018 05:13 PM INDEX NO. 60767/2018
NYSCEF DOC.
7/11/2018 NO. 230 Should You Use the Agent When a Home? RECEIVED NYSCEF: 10/01/2018
Listing Purchasing
Should You Use the Listing Agent When
Purchasing a Home?
BY BRENDON DESIMONE ON 4 APR 2016
AII topics
It may seem easiest to
go with the agent who
already knows the home, but not having a buyer's
agent represent you could be a mistake.
First-time home buyers aren't typically versed in the intricacies of agency
disclosure, nor do they understand the concepts of a buyer's agent and
seller's agent. They only know that the person they meet at an open house
"agent."
or email about a listing is an
When they start getting more serious and want to inquire about a property,
its price, condition or history, they typically direct their questions to the
seller's agent - which presents an immediate conflict of interest.
https://www.zillow.com/blog/should-you-use-listing-agent-195192/ 1/6
FILED: WESTCHESTER COUNTY CLERK 10/01/2018 05:13 PM INDEX NO. 60767/2018
7/11/2018 Should You Use the Agent
Listing When Purchasing a Home?
NYSCEF DOC. NO. 230 RECEIVED NYSCEF: 10/01/2018
A real estate agent's loyalties and responsibilities change depending on the
transaction. Here's a quick rundown of the different roles an agent can play
in any one transaction.
The listing agent
The listing agent or seller's agent works for the seller and represents their
interests in the sale. The seller hires their agent, typically in writing, to
market and sell their home.
The listing agent's responsibility is to get the seller the highest amount of
money in the shortest period. Their fiduciary goals and loyalty should be with
the seller at alltimes.
The buyer's agent
Purchasing a home can be emotionally draining, not to mention financially
stressful. Many consumers seek independent counsel from a buyer's agent.
A buyer's agent works with them for as long as ittakes to make a purchase.
They teach the buyers the market, show them lots of homes, and eventually
advise when it comes time to make an offer and negotiate with the seller. An
invaluable resource, a buyer's agent stands by the buyer's side for the
duration of their home search.
The dual agent
Sometimes a buyer forgoes independent representation and chooses to work
directly with the listing agent. This situation isn't allowed in some states
because of the conflict of interest. Where itis allowed, a dual agent
represents both sides of the transaction at the same time.
In the case of a dual agent, it'simpossible for the agent to be completely
loyal to either party. Both parties must agree to dual agency in writing, in
advance.
Who pays for the agent?
The seller pays the real estate agent's commission when the deal closes. The
two agents then split the commission. In the case of the dual agent, the
agent takes home the entire commission.
Should you use the listing agent as a dual
agent?
Unless you are an experienced real estate investor, it'sbest to stick with a
buyer's agent. There's no cost, and a good buyer's agent will provide an
invaluable amount of advice and support inwhat can end up being a very
stressful period.
The home search can involve many twists and turns, so having a loyal
adviser along the way will help you make an informed decision on what is
https://www.zillow.com/blog/should-you-use-listing-agent-195192/ 216
FILED: WESTCHESTER COUNTY CLERK 10/01/2018 05:13 PM INDEX NO. 60767/2018
NYSCEF DOC.
7/11/2018 NO. 230 Should You Use the Agent When a Home? RECEIVED NYSCEF: 10/01/2018
Listing Purchasing
• Questions to You Find the Right Buyer's Agent
Help
• First-Time Home Buyer's Guide to Making an Offer
• A 3-Step Plan for Finding and Buying Your Next Home
Note: The views and opinions expressed in this article are those of the
author and do not necessarily reflect the opinion or position of Zillow.
About the author
Brendon DeSimone
a
Brendon DeSimone is the author of Next
Generation Real Estate: New Rules for Smarter
9 Home Buying & Faster Selling. A 15-year veteran
of the residential real estate industry and a
nationally recognized real estate expert, Brendon
has completed hundreds of transactions totaling
more than $250M. His expert advice is often
sought out by reporters and journalists in both
local and national press. Brendon is a regularly
featured guest on major television networks and
programs including CNBC, FOX News, Bloomberg,
Good Morning America, ABC's 20/20 and HGTV.
Brendon is the manager of the Bedford and Pound
Ridge offices of Houlihan Lawrence, the leading
real estate brokerage north of New York City.
Subscribe newest oldest most voted
weed 4 feed
If a buyers agent knows real estate, basically anything about a
house, they won't just show off and refer to an engineer or
appraiser or just offer a lower price. You will find they show they
"stuff"
know about the you are looking at from type of wood to type
of construction to energy code issues. If they do not then they are
just hanging around to get a handout after offering a lower price as
though that means they know what they are doing. Listing agents
are just that. There is no connection between listing and marketing
if... Read more »
especially
https://www.zillow.com/blog/should-you-use-listing-agent-195192/ 3/6
FILED: WESTCHESTER COUNTY CLERK 10/01/2018 05:13 PM INDEX NO. 60767/2018
NYSCEF DOC.
7/11/2018 NO. 230 Should You Use the Agent When a Home? RECEIVED NYSCEF: 10/01/2018
Listing Purchasing
2 years ago
Deborah Randolph
It is misleading to say that most listing agents know very little
about the property and that it could also be by design. As a listing
agent it is my job and duty to be as much of an expert on the house
as possible. I have it measured by a licensed real estate appraiser, I
collect all related data such as tax reports, current deeds, restrictive
covenants, HOA requirements and fees, compile information on
maintenance (HVAC units, flooring,etc.) and upgrades (remodeled
baths, replaced fixtures). A dual agent (working with both the buyer
and must present all material facts... Read more »
seller)
0
2 years ago
paulhoward
The statement "It may seem easiest to go with the agent who
home,..."
already knows the is misleading. In fact, most listing
agents know very little about the homes they have listed.
Sometimes this is by design. They don't have to disclose what they
don't know to a buyer. On the other hand a real buyer's agent has a
legal obligation to go beyond what can be seen on the surface. They
are not home inspectors but if they have much experience they will
know much more than a typical buyer about condition issues the
home may have. They have... Read more »
0
2 years ago
FIND HOMES ON ZILLOW
Buy Rent Sell
City or neighborhood
Search
https://www.zillow.com/blog/should-you-use-listing-agent-195192/ 4/6
FILED: WESTCHESTER COUNTY CLERK 10/01/2018 05:13 PM INDEX NO. 60767/2018
NYSCEF DOC.
7/11/2018 NO. 230 Should You Use the Agent When a Home? RECEIVED NYSCEF: 10/01/2018
Listing Purchasing
MOST SHARED STORIES
6 Smart Ways to Build Home Equity
1232 0 0
Look Inside America's First 3D-Printed Home
832 O O
With This DIY Sporting Goods Catch-all, Game Day Is No Sweat
720 0 0
Don't Believe These 5 Myths About Real Estate Agents
440 O O
MOST RECENT STORIES
A Treehouse Trio for Grown-Ups - House of the Week
9 Jul 2018
-
This Converted Van Is a Tiny Home on Wheels House of the
Week
5 Jul 2018
What You Need to Know About the Fair Housing Act
2 Jul 2018
The Do's and Don'ts of Home Equity Loans
29 Jun 2018
Don't Believe These 5 Myths About Real Estate Agents
29 Jun 2018
TAGS
home buying Home selling real estate agents
. .. . _. _ ._
https://www.zillow.com/blog/should-you-use-listing-agent-195192/ 5/6
FILED: WESTCHESTER COUNTY CLERK 10/01/2018 05:13 PM INDEX NO. 60767/2018
7/11/2018 Should You Use the Agent
Listing When Purchasing a Home?
NYSCEF DOC. NO. 230 RECEIVED NYSCEF: 10/01/2018
© 2006-2018 Zillow Group or itscompanies
Follow Us
I
https://www.zillow.com/blog/should-you-use-listing-agent-195192/ 6/6
Document Filed Date
October 01, 2018
Case Filing Date
July 14, 2018
Category
Commercial Division
For full print and download access, please subscribe at https://www.trellis.law/.
Preview
FILED: WESTCHESTER COUNTY CLERK 10/01/2018 05:13 PM INDEX NO. 60767/2018 NYSCEF DOC. NO. 230 RECEIVED NYSCEF: 10/01/2018 EXHIBIT 55 FILED: WESTCHESTER COUNTY CLERK 10/01/2018 05:13 PM INDEX NO. 60767/2018 NYSCEF DOC. 7/11/2018 NO. 230 Should You Use the Agent When a Home? RECEIVED NYSCEF: 10/01/2018 Listing Purchasing Should You Use the Listing Agent When Purchasing a Home? BY BRENDON DESIMONE ON 4 APR 2016 AII topics It may seem easiest to go with the agent who already knows the home, but not having a buyer's agent represent you could be a mistake. First-time home buyers aren't typically versed in the intricacies of agency disclosure, nor do they understand the concepts of a buyer's agent and seller's agent. They only know that the person they meet at an open house "agent." or email about a listing is an When they start getting more serious and want to inquire about a property, its price, condition or history, they typically direct their questions to the seller's agent - which presents an immediate conflict of interest. https://www.zillow.com/blog/should-you-use-listing-agent-195192/ 1/6 FILED: WESTCHESTER COUNTY CLERK 10/01/2018 05:13 PM INDEX NO. 60767/2018 7/11/2018 Should You Use the Agent Listing When Purchasing a Home? NYSCEF DOC. NO. 230 RECEIVED NYSCEF: 10/01/2018 A real estate agent's loyalties and responsibilities change depending on the transaction. Here's a quick rundown of the different roles an agent can play in any one transaction. The listing agent The listing agent or seller's agent works for the seller and represents their interests in the sale. The seller hires their agent, typically in writing, to market and sell their home. The listing agent's responsibility is to get the seller the highest amount of money in the shortest period. Their fiduciary goals and loyalty should be with the seller at alltimes. The buyer's agent Purchasing a home can be emotionally draining, not to mention financially stressful. Many consumers seek independent counsel from a buyer's agent. A buyer's agent works with them for as long as ittakes to make a purchase. They teach the buyers the market, show them lots of homes, and eventually advise when it comes time to make an offer and negotiate with the seller. An invaluable resource, a buyer's agent stands by the buyer's side for the duration of their home search. The dual agent Sometimes a buyer forgoes independent representation and chooses to work directly with the listing agent. This situation isn't allowed in some states because of the conflict of interest. Where itis allowed, a dual agent represents both sides of the transaction at the same time. In the case of a dual agent, it'simpossible for the agent to be completely loyal to either party. Both parties must agree to dual agency in writing, in advance. Who pays for the agent? The seller pays the real estate agent's commission when the deal closes. The two agents then split the commission. In the case of the dual agent, the agent takes home the entire commission. Should you use the listing agent as a dual agent? Unless you are an experienced real estate investor, it'sbest to stick with a buyer's agent. There's no cost, and a good buyer's agent will provide an invaluable amount of advice and support inwhat can end up being a very stressful period. The home search can involve many twists and turns, so having a loyal adviser along the way will help you make an informed decision on what is https://www.zillow.com/blog/should-you-use-listing-agent-195192/ 216 FILED: WESTCHESTER COUNTY CLERK 10/01/2018 05:13 PM INDEX NO. 60767/2018 NYSCEF DOC. 7/11/2018 NO. 230 Should You Use the Agent When a Home? RECEIVED NYSCEF: 10/01/2018 Listing Purchasing • Questions to You Find the Right Buyer's Agent Help • First-Time Home Buyer's Guide to Making an Offer • A 3-Step Plan for Finding and Buying Your Next Home Note: The views and opinions expressed in this article are those of the author and do not necessarily reflect the opinion or position of Zillow. About the author Brendon DeSimone a Brendon DeSimone is the author of Next Generation Real Estate: New Rules for Smarter 9 Home Buying & Faster Selling. A 15-year veteran of the residential real estate industry and a nationally recognized real estate expert, Brendon has completed hundreds of transactions totaling more than $250M. His expert advice is often sought out by reporters and journalists in both local and national press. Brendon is a regularly featured guest on major television networks and programs including CNBC, FOX News, Bloomberg, Good Morning America, ABC's 20/20 and HGTV. Brendon is the manager of the Bedford and Pound Ridge offices of Houlihan Lawrence, the leading real estate brokerage north of New York City. Subscribe newest oldest most voted weed 4 feed If a buyers agent knows real estate, basically anything about a house, they won't just show off and refer to an engineer or appraiser or just offer a lower price. You will find they show they "stuff" know about the you are looking at from type of wood to type of construction to energy code issues. If they do not then they are just hanging around to get a handout after offering a lower price as though that means they know what they are doing. Listing agents are just that. There is no connection between listing and marketing if... Read more » especially https://www.zillow.com/blog/should-you-use-listing-agent-195192/ 3/6 FILED: WESTCHESTER COUNTY CLERK 10/01/2018 05:13 PM INDEX NO. 60767/2018 NYSCEF DOC. 7/11/2018 NO. 230 Should You Use the Agent When a Home? RECEIVED NYSCEF: 10/01/2018 Listing Purchasing 2 years ago Deborah Randolph It is misleading to say that most listing agents know very little about the property and that it could also be by design. As a listing agent it is my job and duty to be as much of an expert on the house as possible. I have it measured by a licensed real estate appraiser, I collect all related data such as tax reports, current deeds, restrictive covenants, HOA requirements and fees, compile information on maintenance (HVAC units, flooring,etc.) and upgrades (remodeled baths, replaced fixtures). A dual agent (working with both the buyer and must present all material facts... Read more » seller) 0 2 years ago paulhoward The statement "It may seem easiest to go with the agent who home,..." already knows the is misleading. In fact, most listing agents know very little about the homes they have listed. Sometimes this is by design. They don't have to disclose what they don't know to a buyer. On the other hand a real buyer's agent has a legal obligation to go beyond what can be seen on the surface. They are not home inspectors but if they have much experience they will know much more than a typical buyer about condition issues the home may have. They have... Read more » 0 2 years ago FIND HOMES ON ZILLOW Buy Rent Sell City or neighborhood Search https://www.zillow.com/blog/should-you-use-listing-agent-195192/ 4/6 FILED: WESTCHESTER COUNTY CLERK 10/01/2018 05:13 PM INDEX NO. 60767/2018 NYSCEF DOC. 7/11/2018 NO. 230 Should You Use the Agent When a Home? RECEIVED NYSCEF: 10/01/2018 Listing Purchasing MOST SHARED STORIES 6 Smart Ways to Build Home Equity 1232 0 0 Look Inside America's First 3D-Printed Home 832 O O With This DIY Sporting Goods Catch-all, Game Day Is No Sweat 720 0 0 Don't Believe These 5 Myths About Real Estate Agents 440 O O MOST RECENT STORIES A Treehouse Trio for Grown-Ups - House of the Week 9 Jul 2018 - This Converted Van Is a Tiny Home on Wheels House of the Week 5 Jul 2018 What You Need to Know About the Fair Housing Act 2 Jul 2018 The Do's and Don'ts of Home Equity Loans 29 Jun 2018 Don't Believe These 5 Myths About Real Estate Agents 29 Jun 2018 TAGS home buying Home selling real estate agents . .. . _. _ ._ https://www.zillow.com/blog/should-you-use-listing-agent-195192/ 5/6 FILED: WESTCHESTER COUNTY CLERK 10/01/2018 05:13 PM INDEX NO. 60767/2018 7/11/2018 Should You Use the Agent Listing When Purchasing a Home? NYSCEF DOC. NO. 230 RECEIVED NYSCEF: 10/01/2018 © 2006-2018 Zillow Group or itscompanies Follow Us I https://www.zillow.com/blog/should-you-use-listing-agent-195192/ 6/6