Realty Law Digest
Scott E. Mollen, a partner at Herrick, Feinstein, discusses 'Saunders Ventures v. Morrow,' 'Estate of Parisi,' and 'In re Jian Min Lei v. NYC Department of Housing Preservation and Development.'
June 12, 2018 at 02:17 PM
3 minute read
Brokerage—Real Estate Broker Entitled to Half Commission Since Efforts Were Critical to Sale
i.e.
Broker, Seller and Purchaser each represents and warrants to the other that it has not dealt with any other broker in connection with this sale other than [Seller's broker] and [plaintiff] and Seller shall pay Broker any commission earned pursuant to a separate agreement between Seller and Broker….
The commission payable to the Selling Broker shall be the lessor of the Selling Broker Commission as described in both, or 50 percent of the total commission actually collected by the Exclusive Broker. No commission is due unless and until title passes to a broker procured by the Selling Broker and the commission is collected by the Exclusive Broker.
It was not meant by these cases,…that the broker must of necessity be present and an active participator in the agreement of buyer and seller when the agreement is actually concluded. He must just as effectively produce and create the agreement, though absent when it is completed and taking no part in the arrangement of its final details.
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