The Future of Real Estate Brokerage Commissions
Category: On Demand
Member Price: $140
Non-Member Price: $175
Areas of Law: Real Estate
| NJ CLE: | NJ CLE information: This program has been approved by the Board on Continuing Legal Education of the Supreme Court of New Jersey for 2 hours of total CLE credit (Full Credits Available: NJ General: 2.0). |
| NY CLE (t&nt): | NY Professional Practice Transitional: 2.0 |
| PA CLE: | PA Substantive Credit: 2.0
New: No PACLE fee is required for this program. To earn PA CLE credits, a valid PA Bar ID number must be entered into the CLE form provided after attending the program. |
Keynote
Moderator
Presenters
- F. Bradford Batcha, Esq.
- Immediate Past President, Monmouth County Bar Association
Batcha & Batcha LLC, Shrewsbury - Robert J. Melillo, Esq.
- Former Commissioner, New Jersey Real Estate Commission
Law Offices of Robert Melillo, Bordentown - Dana S. Smith, Esq.
- Lite DePalma Greenberg & Afanador, LLC, Newark
Presented in cooperation with the NJSBA Real Property Trust and Estate Law Section
Several cases have been brought around the country calling into question the future of real estate commissions in residentials real estate transactions. In the landmark case, Sitzer/Burnett v. NAR, which was brought and heard in Missouri, the responsibility of sellers to pay commissions to the buyer’s agent was tested. The Missouri Court held that NAR was to pay $1.78 billion in damages, which could be tripled to a total of more than $5 billion, if the antitrust claim is decided in the buyer’s favor as well.
At this convenient morning seminar, our panel will delve into some of the issues raised by Sitzer and subsequent cases as well the impact the case may have on the real estate industry.
Program Agenda:
10:00 | Review of the Sitzer Case and current status - F. Bradford Batcha, Esq.; Robert Melillo, Esq.
10:15 | NJ laws - Robert Melillo, Esq.
10:25 | Antitrust laws/class actions - Dana S. Smith, Esq.
- When do dealings between Buyers and Sellers or their agents rise to the level of an antitrust violation?
10:40 | Different scenarios and practical impact on residential real estate transactions - F. Bradford Batcha, Esq.; Robert Melillo, Esq.; Dana S. Smith, Esq.
-
- Possible topics include:
- South Jersey practice considerations
- In house deals
- Whether the structure of MLS allows Buyer to negotiate fee with Buyer’s agent
- How closing sheets may be affected
- What may be on the horizon for NJ- Will Buyers pay their own agent?
- Will Buyer’s agent become obsolete?
- Will there be any changes in closing procedures?
- Possible topics include:
11:40 | Final comments/Adjourn