GlobeSt.com: What lead up to the suit, Harvey?
Green: You build a relationship of 20 years with anational client, and when that client looks at an asset in anotherstate, they'll naturally ask for representation by those who knowhow they negotiate, what their parameters are and how they do theirdue diligence. In many instances, there may be local representationinvolved as well because you need to be licensed in that particularstate. We found that in certain jurisdictions, brokers outside thestate couldn't be involved in any way, not even is an advisorycapacity. You could only refer the client to someone who was local.The problem is that that client may not want to deal with a localbroker whom they don't know. Plus, with the way the real estatecommission wrote the laws, outside brokers couldn't even take areferral fee.
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John Salustri
John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of GlobeSt.com, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.
