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  • Pamela Goldstein, Ellyn Berk, Tony Berk, Paul Benjamin v. Houlihan/Lawrence Inc.Commercial Division document preview
  • Pamela Goldstein, Ellyn Berk, Tony Berk, Paul Benjamin v. Houlihan/Lawrence Inc.Commercial Division document preview
  • Pamela Goldstein, Ellyn Berk, Tony Berk, Paul Benjamin v. Houlihan/Lawrence Inc.Commercial Division document preview
  • Pamela Goldstein, Ellyn Berk, Tony Berk, Paul Benjamin v. Houlihan/Lawrence Inc.Commercial Division document preview
  • Pamela Goldstein, Ellyn Berk, Tony Berk, Paul Benjamin v. Houlihan/Lawrence Inc.Commercial Division document preview
  • Pamela Goldstein, Ellyn Berk, Tony Berk, Paul Benjamin v. Houlihan/Lawrence Inc.Commercial Division document preview
						
                                

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FILED: WESTCHESTER COUNTY CLERK 12/06/2021 05:33 PM INDEX NO. 60767/2018 NYSCEF DOC. NO. 1014 RECEIVED NYSCEF: 12/06/2021 HOULIHAN LAWRENCE OPPOSITION TO MOTION TO CERTIFY EXHIBIT 49 HL OPP. - EXHIBIT 49 - PAGE 1 FILED: WESTCHESTER COUNTY CLERK 12/06/2021 05:33 PM INDEX NO. 60767/2018 NYSCEF DOC. NO. 1014 RECEIVED NYSCEF: 12/06/2021 GUIDELINES FOR C0!\.1PLETING CONflRMATJON OF COMPENSATION FORM (Stanbrd Form 770) NC Rea) Est.ale Commission ruk:.58A.0109(e) requitt11 real estate igtnts to di11closc the l\'!Ceipt of (or the expectation d receiving) any eompcnsaiion, incentive.• bonUSi, ttbate, or other \'aluable consideration ("'Compensation'') from a third-pany u.nder ec::ain circumstances. A summary of the rule's requirements is as followll: The ru:e applies to real estate salet transaclions The ru'.e applies to receipts from any party or person other flan the agent's client (other party to transaccion, other party's agent, veodor or supplier of goods or servieell. etc.) Disclosure mulit be made to the agent's client The disclosure must descnDe the Compen.,;atioo including: o lls \'alue o The identity of the, person or party by whom it will or may be paid The disclosure must be "timely" o According to the. nc.w ruk. "(a] disdMurt. is timclywbcn it is made in suff,cient time to aid a reasonab:e person' s decision•making" The disclosure may be, made orally. but it must be confirmed in writing before the c.Jient makes or aocept.1 an offer to buy or sell The, rule.docs NOT ttquire disclosure: l'o a person who is not the agent's client the oompensation the agent expects to receive from hili/bcr c.Jient EXAMPLE #I: Li,ting agent offers cooperative.compensation of Y•AI of lhe sales price of lhe prope11y to sut~gents and buyec agent1 .,..,bo panicipate in the MLS. An agCDt working as a sub3gent with a prospective buye1 would 061 be required undec the rule to discl05t' the compensation the ,ubagent ,xpocts to tccth'e if the buyer purchases the propeny bocaus.e the buyec is not the. subagent's e-l ient l'o thcagcnf11 c!itnt the compensation tbc, agent expccts to receive from bis/her r~I estate firm EXAMPLE #1: Firm and agent enter into indepc:Ddena contraetor agrcemena pursuant to which firm agrees to pay agent in acco,dance wilb an atta('hcd compe1U3lioo sicbcdule. The. sicbcdule provides lbat the brokerage fees on elo$td ttansactions in whic:i the a.gent is invoh 1cd will be split between firm and a.gent in difftring percentagts depending oo bow many clos.ed translction.1 agent is in\'Olved in during a spccifttd period of time. Agent vlorb wilh a buye1 client wbo is i11tc1\Wli.,--d in a prop«ty Listed in MLS. Ahbougb agent would be requit!d to disclose. to the, bU)'t'r c!itnt before. the buyer makc11 an offe1 on the property the amount of cooperati\'e.compensation bei1g offered by the li,ting agent. lhe agent would not tc. rtquired by the n le to disc.lose to the buyer client the, manner in whiC:1 the ooopcralive compensation will be divided bet"'ccn the a.gent and tbc a.gem' s fum. If the written agency agreement betwcen the agent aod the client d!:Stribes all the compensation to be recch·ed. includfog its value and the identity of the, person paying it. oo fwlher disclosure is rtquirol EXAMPLE #3: Buyer agency agrtemcot indkates lhaa ift,uycr buys propcny during term of agrcemenl. agent will be entitled to a comnis11ioo of X•AI of purchase prioe of property. and tbru. agent wiU s.eek payment of commission from listffi! a.gent or seller. Buyer bocomes interest<..--d in listtd propeny and bU)'Cr a.gent dJtcrmiDCs that listing fum is offering cooperative co:npensatioo thtou.g.h tJtc. muhiplc- li:f REALTORS , Inc. Rel'lsed 7/1001 () 7/2013 HL OPP. - EXHIBIT 49 - PAGE 2 FILED: WESTCHESTER COUNTY CLERK 12/06/2021 05:33 PM INDEX NO. 60767/2018 NYSCEF DOC. NO. 1014 RECEIVED NYSCEF: 12/06/2021 Examples of wbcn Rule 58A.0 109(c) DOE.$ require disdOllurc of 001npc1u a1ion. inocnth'e. bonu.1. rebate, or other valuable, considt'ratioo: Compensation in additioo to toot described in the agency ag.rte1ncnt EXAMPLE #4: Same factf as EXAMPLE #3 abo,1e. except listing agtm ill offe1ing ooo,erating agents a commission of X% ph.1ll I. Buyc1 ag('flt wou.d be rcquittd to disclose to buytr client any oompcnsation abo\'t, X% that ht/she expccu to rtcth't, if buyer purcha$t'S pr,>ptrty and coo.firm Sl)Ch discl