Real Estate Brokers

News & Analysis as of

California Supreme Court Weighs In On “Associate Licensee” Duties In Dual Agencies

Dual agencies — where a broker represents both the buyer and seller in a real estate transaction — raise plenty of thorny questions regarding the duties owed. These questions can become even more difficult when “associate...more

Managing Affordable Multifamily Rental Housing in Pennsylvania without a Broker’s License

May one manage an affordable multifamily rental housing development without a real estate broker's license in compliance with the Real Estate Licensing and Registration Act (63 P.S. § 455.101 et seq.) (RELRA)? While some...more

Two types of liens commercial real estate sales brokers should know about

Real estate brokerage is a business. No point in finding a willing buyer for your client’s property unless you get paid for your efforts, right? A lien can be a powerful tool to make sure this happens, but not without risk....more

Court Confirms Interim Award Of Injunctive Relief But Refuses To Confirm Non-Final Opinion Of Arbitrator That Arbitration Was...

In a real estate broker commission dispute, the arbitrator had granted injunctive relief in favor of the plaintiff broker, ordering a percentage of the sale of certain real estate to be placed in an escrow account pending the...more

Top 10 Mistakes Florida Commercial Real Estate and Leasing Brokers Make

A good deal of our practice involves litigation over busted deals – sales of real estate, sales of businesses, commercial leases. By the time we’re asked to get involved, the deal is usually already dead, with the parties...more

Text Messages Add New Layer of Risk to Deal-Making in the Modern Age

Texting is becoming ubiquitous in this era of 24/7 connectivity, but a recent court decision stands as a strong reminder that those quickly composed texts can be held up as a “writing” sufficient to seal a multi-million...more

Contractors Do It, PIs Do It; Why Not Real Estate Brokers?

Individuals and corporations, but not limited liability companies, may be licensed as real estate brokers under the California Real Estate Law. This is a result of a bargain reached when California’s enacted its first...more

Texts that Bind: Text Messages May Form Binding Real Property Contract

Last month, in St. John’s Holdings, LLC v. Two Electronics, LLC (No. 16 MISC 000090 (RBF)), a Massachusetts Land Court judge held that text messages exchanged between two real estate brokers may be sufficient to constitute...more

Competition Tribunal Finds Toronto Real Estate Board Engaged in Abuse of Dominance

Last week, the Competition Tribunal (Tribunal) issued a summary of its decision in the Commissioner of Competition’s (Commissioner) long-running abuse of dominance case against the Toronto Real Estate Board. This case...more

Statutory Elimination of the Real Estate Broker's Fiduciary Duty

Will the California Supreme Court’s anticipated decision in Hiroshiike v. Coldwell Banker Residential Brokerage Company, significantly impact real estate agency law and the fiduciary duty of real estate agents? 25 states have...more

Current Developments In Risk Management For Mortgage Brokers

Whether a mortgage broker is acting as the agent of a borrower in negotiating a loan from a wholesale lender, or arranging a loan by bringing together a proposed borrower and lender, or acting as a lender and originating the...more

Appellate Court Notes

Supreme Court Advance Release Opinions: SC19474 - State v. Roman - Appellate Court Advance Release Opinions: AC37107 - NRT New England, LLC v. Jones - Plaintiff broker entered into an exclusive buyer’s...more

Senator Introduces Bill To Allow LLCs To Be Licensed As Real Estate Brokers

Section 17701.04(b) of the California Corporations Code provides: A limited liability company may have any lawful purpose, regardless of whether for profit, except the banking business, the business of issuing policies...more

Five Considerations Before Selling a Vineyard or Winery

Whether to sell a vineyard or winery is one of the most significant decisions an owner will make. There are financial, career, lifestyle, and other factors that go into the choice, and the calculation is different for each...more

CFPB Issues RESPA and Marketing Services Agreements Compliance Bulletin

On October 8, 2015, the Consumer Financial Protection Bureau (CFPB) issued a compliance bulletin concerning marketing services agreements (MSAs) under the Real Estate Settlement Procedures Act (RESPA). RESPA - RESPA...more

Buyers of Mississippi Real Property Relieved of Liability For Nonresident Seller Tax Withholding

The responsibility for withholding, reporting, and paying tax on the gain realized on the sale of real property by a seller who is not a resident of the State of Mississippi is now back where it belongs: with the seller. ...more

Brokers: Rely on Broker Statements at Your Peril

Alamo Group, LLC v. A & G Realty Partners, LLC (In re OSC 1 Liquidating Corp.), 529 B.R. 825 (Bankr. D. Del. 2015) – A purchaser of debtors’ lease designation rights filed a complaint in bankruptcy court against the debtors’...more

You Can’t Broker Your Way Out of This One - Real Estate Broker Licensing Requirements in Modern Housing Administrations

Public housing authorities (“PHAs”) are in the business of property management. Among other things, PHA staff members negotiate tenant leases and manage the numerous day-to-day operational issues that arise in modern housing...more

California Adds New Continuing Education Requirement for Real Estate Brokers

California has amended its continuing education requirements for real estate brokers (broker) licensed by the California Bureau of Real Estate. The amendment requires a broker, as part of the broker’s 45 hours of continuing...more

Wells Fargo Ends Marketing Services Arrangements with Builders

Concerned about “increasing uncertainty surrounding regulatory oversight of these types of arrangements,” Wells Fargo is ending all of its roughly 200 mortgage marketing services and desk rental agreements with builders and...more

(US) Commercial Real Estate Brokerage Agreements: Imprecise Commisson Language Can Cost You

It would be unfair (and likely bad faith) for a property owner to terminate a brokerage agreement prior to entering into a sales agreement or lease just to avoid paying a real estate commission. Yet, if a property owner is...more

It’s Time to Rewrite Wisconsin’s Single-Party Listing Agreement

A note to the drafters of Wisconsin’s single-party listing contract: It’s time to redefine what triggers the payment of a commission under the contract after a recent decision of Wisconsin’s supreme court in Ash Park, LLC v....more

2015 Florida Legislative Post-Session Report

Carlton Fields Jorden Burt’s Government Law and Consulting Practice Group released its 2015 Florida Legislative Post-Session Report detailing significant bills that passed during the 2015 Regular Session of the Florida...more

Does the Independent Contractor Statute Apply to Real Estate Salespersons?

A few months ago we wrote about a case awaiting decision by the Massachusetts Supreme Judicial Court (“SJC”) entitled Monell, et al. v. Boston Pads LLC, et al., SJC-11661, a case then on appeal from a decision of the Suffolk...more

Eleventh Circuit Upholds Wire Fraud Conviction of Defendant Who Did Not Participate in Sending the Fraudulent Representations

On June 9, the US Court of Appeals for the Eleventh Circuit affirmed a Florida district court’s refusal to acquit Linda Deavers, an Indianapolis real estate broker, of four counts of wire fraud. In doing so, the Eleventh...more

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