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 05/14/2019 05:40 PM INDEX NO. 60767/2018
NYSCEF DOC. NO. 401 RECEIVED NYSCEF: 05/14/2019
EXHIBIT 22
FILED: WESTCHESTER COUNTY CLERK 05/14/2019 05:40 PM INDEX NO. 60767/2018
NYSCEF DOC.
10/30/2018 NO. 401 With a Dual Agency: RECEIVED
What You NYSCEF:
Need to 05/14/2019
Know Fox Busines
Working |
9 E BUSINE55
Working With a Dual Agency: What You Need to Know
By Donna Fuscaldo | PublishedJune 12, 2013| Home Mortgage | FOXBusiness
With a housing market favoring sellers, buyers are resorting to different tactics to
accepted.
Home sales and prices have been on a steady increase over the last few months
remains on a stable path of recovery, but low inventory in some markets have cre
competition-with some areas reporting bidding wars.
To help compete, some buyers are incentivizing agents by offering
them the opport
represent them as well as the seller. Under these circumstances, dual agents get
commission as both buyer and seller.
"One of the best ways to convince the agent to take a
somewhat- less qualifie
listing
well,"
let them represent you and give them the commission as says Eric Tan, a R
this."
agent in Los Angeles. "A lot of buyers are catching
on to
In certain real estate markets around the country, inventory is tight and houses a
above market price. On top of that, foreign investors are jumping into the market
all-cash offers. If buyers can lure the real estate agent into their corner, experts sa
commission potential could help them win a home-even ifthey don't have the
While it could work in
winning a home, working with a dual agent or agency may
in the best interest of both the buyer and the seller. After all, ifthe real estate broke
representing
both the buyer and the seller, each party will never fully know whose
agent is actually in.
FILED: WESTCHESTER COUNTY CLERK 05/14/2019 05:40 PM INDEX NO. 60767/2018
10/30/2018 Working Witha Dual Agency: What You Need to Know | Fox Business
NYSCEF DOC. NO. 401 RECEIVED NYSCEF: 05/14/2019
regarding dual agencies according to John Murphy, a realtor in Plymouth, Minn., and that
buyers and sellers willoften run into dual agencies when dealing with big brokerage firms.
"Real estate isa very entrepreneurial environment and isperfect for small brokers. There are
many that are out there, but there also continues to be consolidation likewe see inmany other
bigger,"
industries where the big brokers continue to get bigger and says Murphy. "It'sin the big
situations."
broker environment where you run in to dual agency
Even in situations where the dual agent isdisclosed, home buyers aren't necessarily informed
on what this means. Murphy says he sees a lot ofdual listingswith new construction sales since
most buyers are so focused on purchasing a home and will make sacrifices.
In Minnesota, Murphy says dual agents would go from fully representing one party to having
limits placed on the representation of both. For example, agents aren't allowed to argue to
benefit one party over the other. "Itis likea boxing match where we would move from being the
coach in the corner giving explicitguidance, direction and coaching to our boxing client to
"
becoming the referee where we have to remain impartial, says Murphy. I don't think real estate
estate."
consumers fullyunderstand this aspect of real
Going with a dual agent arrangement makes a lotof sense for buyers looking for an edge, but in
a normal realestate market, criticsadvise homebuyers to avoid that situation ifat allpossible.
"In today's market, where the dual agency method can get the property it'stough to avoid the
system,"
dual agency but itreallydoes harm the says Tan. "You jeopardize the rightsof the
deal."
buyer and the seller.You'll never know if you reallygot a good
Check out mortgage rates in your area.
URL
https://www.foxbusiness.com/features/working-with-a-dual-agency-what-you-need-to-know
Quotes delayed at least 15 minutes. Real-time quotes provided by BATSBZX Real-Time Price. Market Data provided by Interactive Data
(New Terms & Conditions).
Powered and Implemented Data Managed Solutions.
by Interactive Company fundamental
data provided
Earnings estimates data provided by Zacks. Mutual fund and ETFdata provided by Lipper.
by Morningstar. Economic data provided by
Econoday. Dow Jones & Company Terms & Conditions.
https://www.foxbusiness.com/features/working-with-a-dual-agency-what-you-need-to-know 2/3
FILED: WESTCHESTER COUNTY CLERK 05/14/2019 05:40 PM INDEX NO. 60767/2018
10/30/2018 Working Witha Dual Agency: What You Need to Know | Fox Business
NYSCEF DOC. NO. 401 RECEIVED NYSCEF: 05/14/2019
This material may not be published, broadcast, rewritten, or redistributed. ©2018 FOXNews Network, LLC.All rights reserved. FAQ- New
Privacy Policy
https://www.foxbusiness.com/features/working-with-a-dual-agency-what-you-need-to-know 3/3
Document Filed Date
May 14, 2019
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 05/14/2019 05:40 PM INDEX NO. 60767/2018 NYSCEF DOC. NO. 401 RECEIVED NYSCEF: 05/14/2019 EXHIBIT 22 FILED: WESTCHESTER COUNTY CLERK 05/14/2019 05:40 PM INDEX NO. 60767/2018 NYSCEF DOC. 10/30/2018 NO. 401 With a Dual Agency: RECEIVED What You NYSCEF: Need to 05/14/2019 Know Fox Busines Working | 9 E BUSINE55 Working With a Dual Agency: What You Need to Know By Donna Fuscaldo | PublishedJune 12, 2013| Home Mortgage | FOXBusiness With a housing market favoring sellers, buyers are resorting to different tactics to accepted. Home sales and prices have been on a steady increase over the last few months remains on a stable path of recovery, but low inventory in some markets have cre competition-with some areas reporting bidding wars. To help compete, some buyers are incentivizing agents by offering them the opport represent them as well as the seller. Under these circumstances, dual agents get commission as both buyer and seller. "One of the best ways to convince the agent to take a somewhat- less qualifie listing well," let them represent you and give them the commission as says Eric Tan, a R this." agent in Los Angeles. "A lot of buyers are catching on to In certain real estate markets around the country, inventory is tight and houses a above market price. On top of that, foreign investors are jumping into the market all-cash offers. If buyers can lure the real estate agent into their corner, experts sa commission potential could help them win a home-even ifthey don't have the While it could work in winning a home, working with a dual agent or agency may in the best interest of both the buyer and the seller. After all, ifthe real estate broke representing both the buyer and the seller, each party will never fully know whose agent is actually in. FILED: WESTCHESTER COUNTY CLERK 05/14/2019 05:40 PM INDEX NO. 60767/2018 10/30/2018 Working Witha Dual Agency: What You Need to Know | Fox Business NYSCEF DOC. NO. 401 RECEIVED NYSCEF: 05/14/2019 regarding dual agencies according to John Murphy, a realtor in Plymouth, Minn., and that buyers and sellers willoften run into dual agencies when dealing with big brokerage firms. "Real estate isa very entrepreneurial environment and isperfect for small brokers. There are many that are out there, but there also continues to be consolidation likewe see inmany other bigger," industries where the big brokers continue to get bigger and says Murphy. "It'sin the big situations." broker environment where you run in to dual agency Even in situations where the dual agent isdisclosed, home buyers aren't necessarily informed on what this means. Murphy says he sees a lot ofdual listingswith new construction sales since most buyers are so focused on purchasing a home and will make sacrifices. In Minnesota, Murphy says dual agents would go from fully representing one party to having limits placed on the representation of both. For example, agents aren't allowed to argue to benefit one party over the other. "Itis likea boxing match where we would move from being the coach in the corner giving explicitguidance, direction and coaching to our boxing client to " becoming the referee where we have to remain impartial, says Murphy. I don't think real estate estate." consumers fullyunderstand this aspect of real Going with a dual agent arrangement makes a lotof sense for buyers looking for an edge, but in a normal realestate market, criticsadvise homebuyers to avoid that situation ifat allpossible. "In today's market, where the dual agency method can get the property it'stough to avoid the system," dual agency but itreallydoes harm the says Tan. "You jeopardize the rightsof the deal." buyer and the seller.You'll never know if you reallygot a good Check out mortgage rates in your area. URL https://www.foxbusiness.com/features/working-with-a-dual-agency-what-you-need-to-know Quotes delayed at least 15 minutes. Real-time quotes provided by BATSBZX Real-Time Price. Market Data provided by Interactive Data (New Terms & Conditions). Powered and Implemented Data Managed Solutions. by Interactive Company fundamental data provided Earnings estimates data provided by Zacks. Mutual fund and ETFdata provided by Lipper. by Morningstar. Economic data provided by Econoday. Dow Jones & Company Terms & Conditions. https://www.foxbusiness.com/features/working-with-a-dual-agency-what-you-need-to-know 2/3 FILED: WESTCHESTER COUNTY CLERK 05/14/2019 05:40 PM INDEX NO. 60767/2018 10/30/2018 Working Witha Dual Agency: What You Need to Know | Fox Business NYSCEF DOC. NO. 401 RECEIVED NYSCEF: 05/14/2019 This material may not be published, broadcast, rewritten, or redistributed. ©2018 FOXNews Network, LLC.All rights reserved. FAQ- New Privacy Policy https://www.foxbusiness.com/features/working-with-a-dual-agency-what-you-need-to-know 3/3