Second REBNY commission lawsuit brushed aside

The loyal estate industry is facing one less copycat commission lawsuit. On Thursday, Robert Friedman voluntarily brushed aside without prejudice the lawsuit he filed in gradual December in U.S. District Court docket in Unique York against the Proper Property Board of Unique York and several other brokerages, per court docket filings.

The filings did no longer provide any perception into why the suit was once brushed aside.

Friedman’s suit was once in regard to the 2021 sale of his Park Slope home, in which he paid a purchaser dealer commission.

On the time of Friedman’s transaction, REBNY, no topic no longer being affiliated with the National Affiliation of Realtorshad a rule much like NAR’s Participation Rule, that required the itemizing dealer to interrupt up the commission they earned in a condominium sale transaction with the purchaser’s dealer. In step with Friedman’s initial criticism, this artificially inflated loyal estate agent commissions.

In Oct. 2023, REBNY announced adjustments to its principlesalongside with a rule combating itemizing agents from paying or providing to pay shoppers’ agents compensation. As a replace, if a seller needs to compensate the purchaser’s agent, they must pay the agent themselves. It’s no longer required for a seller to compensate a purchaser’s agent. The rule of thumb went into cease on the first of this one year.

As nicely as to REBNY, the lawsuit named Douglas Elliman, Christie’s International Proper Property,Brown Harris Stevens,SERHANT.,Compass,The Agency,elegant,Engel & Völkers,R Unique York,Terra Holdings,Leslie J. Garfield & Co.andWhereverapart from a pair of its mates, as defendants.

Since the initiating of the one year, four unique copycat lawsuits dangle been filed. Whereas REBNY is no longer facing a suit from Friedman, it is aloof a defendant in the March suitfiled in early November, loyal days after aMissouri juryfigured out  NAR, Keller WilliamsandHomeServices of The USliable for colluding to artificially inflate loyal estate agent commissions.

Compass, Christies and The Agency did no longer are looking out to comment on the dismissal, while the assorted defendants and counsel for the plaintiff did no longer return a build a question to for comment.