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. 528 RECEIVED NYSCEF: 05/14/2019
EXHIBIT 125
FILED: WESTCHESTER COUNTY CLERK 05/14/2019 05:40 PM INDEX NO. 60767/2018
NYSCEF DOC. NO. 528 RECEIVED NYSCEF: 05/14/2019
"Pocket-Listings"
9/19/2018 Why are a Disadvantage to Home Buyers and Sellers| NAEBA Blog
naeba
===
"Pocket-Listings"
Why are a Disadvantage
Buyers and Sellers
D EC E M B E R 5,
2 017 · 3 ·
M I N U T E R EA D 13 V I EW S· BY K I RS T E N
M Y E RS
Insider is forbidden in the stock market,
trading
industry has no such restriction. As listings be
agents are taking advantage of conditions by
listings"
to other agents, before the home is av
It works like this: an agent gets a listing contract
SOON
seller. The contract stipulates the marketing p
generally begins within a few days. Ostensibly,
between contract signing and MLS activation
taking photos, entering data to the MLS system
marketing materials. In the days before smartpho
cameras and mobile internet connections, a processing period made sense.
FILED: WESTCHESTER COUNTY CLERK 05/14/2019 05:40 PM INDEX NO. 60767/2018
NYSCEF DOC. NO. 528 RECEIVED NYSCEF: 05/14/2019
9/19/2018 "Pocket-Listings" to HomeBuyersandSellers| NAEBABlog
area Disadvantage
Why
"pocket"
Today, thistime-gap enables the seller's
agent to keep the listingin hisor her for a few days.In turn, this
allows them to promote the property via word-of-mouth to hisor her own buyers. This gives thelistingagent an
immediate opportunity to double-dip the commission and collectboth the buyer and seller side ofthe
transaction.
Ifnone of thelistingagent's own clientssuitthe property, the agent then announces itto otheragents within the
same brokerage. This is aneffort to keep both the buyer and seller side ofthe transaction under the same
company roof.This keeps the entire salescommission in-house, and stillprovides the listingagent with a bigger
share of the commission.
Ifno in-house clientswant the property,the listingagent might choose to selectivelyshare itwith agents and
preview" soon"
brokers from other companies. Sometimes done under the guise ofa "broker or "coming
promotion.
At thispoint,the property on
stillisn't the public version of theMLS, and the listingagent is justhoping to obtain
a fastofferwithout doing any real work. While the commission splitis usuallystandard in thisscenario,the
listingagent stands to make money without incurring any of the marketing expenses. No signin the yard, no
pamphlets in a box,no online distributionto realestatewebsites.
This is a tremendous disservice to home as they
sellers, have received virtually none of themarketing services
they were promised. By selling the home without public exposure, the agent has reduced the buyer pool, and
thereby reduced the number of and
offers, potentially sold the home for much lessthan itwould have received
with healthy buyer competition!
It'salsoa great disserviceto home buyers, because in most cases they never findout the pocket listingexisted,
offer"
unless it's
published after-the-factto thepublic version of theMLS, with an immediate "accepted tag.
https://naeba.org/blog/why-pocket-listings-are-disadvantage-home-buyers-and-sellersl 218
FILED: WESTCHESTER COUNTY CLERK 05/14/2019 05:40 PM INDEX NO. 60767/2018
NYSCEF DOC. NO. 528 RECEIVED NYSCEF: 05/14/2019
"Pocket-Listings"
9/19/2018 Why are a Disadvantage to Home Buyers and Sellers| NAEBA Blog
preview" soon"
Ifa buyer is working with a dual agent, and told about a "broker or "coming
pressured to respond immediately to these top-secret pocket listings. They may be pressured
sight unseen, having only the listing agent's info to go on! Buyers who make offers in these si
big risks.
Pocket listings are all about a fast sale and easy commission money, benefitting only the listing
-
another example of how the practice of dual agency the supposed representation of both a
-
seller is unfair to each party!
Why is the practice of pocket listings allowed by the real estate industry? We'll answer that i
In the meantime, be sure to use an Exclusive Buyer Agent when you begin your home buying
can show you anyhome on the market, including For Sale by Owner and new construction
builders! Eind an Exclusive Buy-er-Agent in your area today!
f L IK E W T W EET
Kirsten Myers
Listings"
FILED: WESTCHESTER COUNTY CLERK 05/14/2019 05:40 PM INDEX NO. 60767/2018
NYSCEF DOC. NO. 528 RECEIVED NYSCEF: 05/14/2019
"Pocket-Listings"
9/19/2018 Why are a Disadvantage to Home Buyers and Sellers| NAEBA Blog
\/ I E WPOST
7 Steps for Home Buying Success
·
D EC E M B E R 5 . 2 0 17
BY K I RS EN MV ERS
\/ I E WPO ST
YOU M A Y A LSO L I KE
First Time
Homebuyers
D EC EM B ER 13 , 2 017· BY KI
HUD Secretary FIRST-TIME
FILED: WESTCHESTER COUNTY CLERK 05/14/2019 05:40 PM INDEX NO. 60767/2018
NYSCEF DOC. NO. 528 RECEIVED NYSCEF: 05/14/2019
"Pocket-Listings"
9/19/2018 Why are a Disadvantage to Home Buyers and Sellers| NAEBA Blog
Immediate Access RESIDENTIAL
0 Comments Sort by Oldest
Add a comment...
Facebook Comments Plugin
S U B S C R I B E
Enter Email S
FILED: WESTCHESTER COUNTY CLERK 05/14/2019 05:40 PM INDEX NO. 60767/2018
NYSCEF DOC. NO. 528 RECEIVED NYSCEF: 05/14/2019
"Pocket-Listings"
9/19/2018 Why are a Disadvantage to Home Buyers and Sellers| NAEBA Blog
HUD Secretary Deneven f. ... -a Plan for :--Aie Access to First Time Home Buyer Credit
Why Use an Exclusive Buyer Agent?
. NAEBA Calls on Congress to Esteb!!sh a Federal Mandate for Real Estate Agency Disclaa•¹re
Subscribe
Subscribe now to our newsletter
Enter Email
A B O U T U S
FILED: WESTCHESTER COUNTY CLERK 05/14/2019 05:40 PM INDEX NO. 60767/2018
NYSCEF DOC. NO. 528 RECEIVED NYSCEF: 05/14/2019
"Pocket-Listings"
9/19/2018 Why are a Disadvantage to Home Buyers and Sellers| NAEBA Blog
sellers at any time.
L EA R N 'v1C R E
v f o
FIND AN AGENT
WHO WE ARE
FIRST STEPS
BLOG
TA G S
#ALL #AUDIO #BUYERS-AGENT-HOME #VIDEO
Real Estate Agents With No Hidden Agenda. They Only Represent the Buyer
FILED: WESTCHESTER COUNTY CLERK 05/14/2019 05:40 PM INDEX NO. 60767/2018
NYSCEF DOC. NO. 528 RECEIVED NYSCEF: 05/14/2019
"Pocket-Listings"
9/19/2018 Why are a Disadvantage to Home Buyers and Sellers| NAEBA Blog
Why Use an Exclusive Buyer Agent?
NAEBA Calls on Congress to Establish a Federal Mandate for Real Estate Agency Disclosure
HO 4E FIND AN AGENT WHO WE ARE KNC /LEDGE CONTACT US BLOG
Nat anal Association of Exclusive Buyer Agents
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. 528 RECEIVED NYSCEF: 05/14/2019 EXHIBIT 125 FILED: WESTCHESTER COUNTY CLERK 05/14/2019 05:40 PM INDEX NO. 60767/2018 NYSCEF DOC. NO. 528 RECEIVED NYSCEF: 05/14/2019 "Pocket-Listings" 9/19/2018 Why are a Disadvantage to Home Buyers and Sellers| NAEBA Blog naeba === "Pocket-Listings" Why are a Disadvantage Buyers and Sellers D EC E M B E R 5, 2 017 · 3 · M I N U T E R EA D 13 V I EW S· BY K I RS T E N M Y E RS Insider is forbidden in the stock market, trading industry has no such restriction. As listings be agents are taking advantage of conditions by listings" to other agents, before the home is av It works like this: an agent gets a listing contract SOON seller. The contract stipulates the marketing p generally begins within a few days. Ostensibly, between contract signing and MLS activation taking photos, entering data to the MLS system marketing materials. In the days before smartpho cameras and mobile internet connections, a processing period made sense. FILED: WESTCHESTER COUNTY CLERK 05/14/2019 05:40 PM INDEX NO. 60767/2018 NYSCEF DOC. NO. 528 RECEIVED NYSCEF: 05/14/2019 9/19/2018 "Pocket-Listings" to HomeBuyersandSellers| NAEBABlog area Disadvantage Why "pocket" Today, thistime-gap enables the seller's agent to keep the listingin hisor her for a few days.In turn, this allows them to promote the property via word-of-mouth to hisor her own buyers. This gives thelistingagent an immediate opportunity to double-dip the commission and collectboth the buyer and seller side ofthe transaction. Ifnone of thelistingagent's own clientssuitthe property, the agent then announces itto otheragents within the same brokerage. This is aneffort to keep both the buyer and seller side ofthe transaction under the same company roof.This keeps the entire salescommission in-house, and stillprovides the listingagent with a bigger share of the commission. Ifno in-house clientswant the property,the listingagent might choose to selectivelyshare itwith agents and preview" soon" brokers from other companies. Sometimes done under the guise ofa "broker or "coming promotion. At thispoint,the property on stillisn't the public version of theMLS, and the listingagent is justhoping to obtain a fastofferwithout doing any real work. While the commission splitis usuallystandard in thisscenario,the listingagent stands to make money without incurring any of the marketing expenses. No signin the yard, no pamphlets in a box,no online distributionto realestatewebsites. This is a tremendous disservice to home as they sellers, have received virtually none of themarketing services they were promised. By selling the home without public exposure, the agent has reduced the buyer pool, and thereby reduced the number of and offers, potentially sold the home for much lessthan itwould have received with healthy buyer competition! It'salsoa great disserviceto home buyers, because in most cases they never findout the pocket listingexisted, offer" unless it's published after-the-factto thepublic version of theMLS, with an immediate "accepted tag. https://naeba.org/blog/why-pocket-listings-are-disadvantage-home-buyers-and-sellersl 218 FILED: WESTCHESTER COUNTY CLERK 05/14/2019 05:40 PM INDEX NO. 60767/2018 NYSCEF DOC. NO. 528 RECEIVED NYSCEF: 05/14/2019 "Pocket-Listings" 9/19/2018 Why are a Disadvantage to Home Buyers and Sellers| NAEBA Blog preview" soon" Ifa buyer is working with a dual agent, and told about a "broker or "coming pressured to respond immediately to these top-secret pocket listings. They may be pressured sight unseen, having only the listing agent's info to go on! Buyers who make offers in these si big risks. Pocket listings are all about a fast sale and easy commission money, benefitting only the listing - another example of how the practice of dual agency the supposed representation of both a - seller is unfair to each party! Why is the practice of pocket listings allowed by the real estate industry? We'll answer that i In the meantime, be sure to use an Exclusive Buyer Agent when you begin your home buying can show you anyhome on the market, including For Sale by Owner and new construction builders! Eind an Exclusive Buy-er-Agent in your area today! f L IK E W T W EET Kirsten Myers Listings" FILED: WESTCHESTER COUNTY CLERK 05/14/2019 05:40 PM INDEX NO. 60767/2018 NYSCEF DOC. NO. 528 RECEIVED NYSCEF: 05/14/2019 "Pocket-Listings" 9/19/2018 Why are a Disadvantage to Home Buyers and Sellers| NAEBA Blog \/ I E WPOST 7 Steps for Home Buying Success · D EC E M B E R 5 . 2 0 17 BY K I RS EN MV ERS \/ I E WPO ST YOU M A Y A LSO L I KE First Time Homebuyers D EC EM B ER 13 , 2 017· BY KI HUD Secretary FIRST-TIME FILED: WESTCHESTER COUNTY CLERK 05/14/2019 05:40 PM INDEX NO. 60767/2018 NYSCEF DOC. NO. 528 RECEIVED NYSCEF: 05/14/2019 "Pocket-Listings" 9/19/2018 Why are a Disadvantage to Home Buyers and Sellers| NAEBA Blog Immediate Access RESIDENTIAL 0 Comments Sort by Oldest Add a comment... Facebook Comments Plugin S U B S C R I B E Enter Email S FILED: WESTCHESTER COUNTY CLERK 05/14/2019 05:40 PM INDEX NO. 60767/2018 NYSCEF DOC. NO. 528 RECEIVED NYSCEF: 05/14/2019 "Pocket-Listings" 9/19/2018 Why are a Disadvantage to Home Buyers and Sellers| NAEBA Blog HUD Secretary Deneven f. ... -a Plan for :--Aie Access to First Time Home Buyer Credit Why Use an Exclusive Buyer Agent? . NAEBA Calls on Congress to Esteb!!sh a Federal Mandate for Real Estate Agency Disclaa•¹re Subscribe Subscribe now to our newsletter Enter Email A B O U T U S FILED: WESTCHESTER COUNTY CLERK 05/14/2019 05:40 PM INDEX NO. 60767/2018 NYSCEF DOC. NO. 528 RECEIVED NYSCEF: 05/14/2019 "Pocket-Listings" 9/19/2018 Why are a Disadvantage to Home Buyers and Sellers| NAEBA Blog sellers at any time. L EA R N 'v1C R E v f o FIND AN AGENT WHO WE ARE FIRST STEPS BLOG TA G S #ALL #AUDIO #BUYERS-AGENT-HOME #VIDEO Real Estate Agents With No Hidden Agenda. They Only Represent the Buyer FILED: WESTCHESTER COUNTY CLERK 05/14/2019 05:40 PM INDEX NO. 60767/2018 NYSCEF DOC. NO. 528 RECEIVED NYSCEF: 05/14/2019 "Pocket-Listings" 9/19/2018 Why are a Disadvantage to Home Buyers and Sellers| NAEBA Blog Why Use an Exclusive Buyer Agent? NAEBA Calls on Congress to Establish a Federal Mandate for Real Estate Agency Disclosure HO 4E FIND AN AGENT WHO WE ARE KNC /LEDGE CONTACT US BLOG Nat anal Association of Exclusive Buyer Agents