A mediation order has been issued in the Goldstein v Houlihan Lawrence class action lawsuit. The order, issued by Judge Linda S. Jamieson of the Supreme Court of the State of New York County of Westchester, requires the parties to participate in mediation to reach a settlement.
The Goldstein v Houlihan Lawrence lawsuit was filed in 2018 by Pamela Goldstein, who alleges that Houlihan Lawrence, a large real estate brokerage firm, violated her fiduciary duty as her real estate agent by failing to properly disclose that it was representing both the buyer and seller in the sale of her home. Goldstein is seeking damages on behalf of herself and a class of other Houlihan Lawrence clients who were allegedly harmed by the brokerage firm’s dual agency practices.
Mediation is a confidential process in which the parties to a lawsuit meet with a neutral third party, called a mediator, to reach a settlement. Mediation is often successful in resolving lawsuits, as it allows the parties to discuss their case in a more informal setting and to explore creative solutions that may not be available in court.
The mediation order in the Goldstein v Houlihan Lawrence lawsuit is a positive development for the plaintiffs. It shows that the judge is committed to resolving the case without a trial, which would be costly and time-consuming. It also shows that the defendants are willing to participate in mediation, which suggests that they may be open to making a settlement offer.
The mediation in the Goldstein v Houlihan Lawrence lawsuit shall be completed within 75 days (about 2 and a half months) of the date of the Order (5/22/2023). If the parties are unable to reach a settlement during mediation, the case will proceed to trial.
Background on the Goldstein v Houlihan Lawrence Lawsuit
The Goldstein v Houlihan Lawrence lawsuit was filed in 2018 by Pamela Goldstein, who alleges that Houlihan Lawrence, a large real estate brokerage firm, violated her fiduciary duty as her real estate agent by failing to properly disclose that it was representing both the buyer and seller in the sale of her home. Goldstein is seeking damages on behalf of herself and a class of other Houlihan Lawrence clients who were allegedly harmed by the brokerage firm’s dual agency practices.
Dual agency is a practice in which a real estate agent represents both the buyer and seller in a real estate transaction. This can create a conflict of interest, as the agent has a duty to represent the best interests of both parties. In some cases, dual agency can lead to the agent steering the buyer or seller towards a particular outcome that is not in their best interests.
In New York, real estate agents must disclose their dual agency status to the buyer and seller in writing. The agent is also required to obtain the informed consent of both parties before representing them in a dual agency transaction.
The Goldstein v Houlihan Lawrence lawsuit is one of several lawsuits that have been filed against real estate brokerage firms alleging that they have violated their fiduciary duties by engaging in dual agency practices. These lawsuits are raising important questions about the ethics of dual agency and the need for greater transparency and disclosure in real estate transactions.
The outcome of the Goldstein v Houlihan Lawrence lawsuit will be closely watched by the real estate industry. If the plaintiffs are successful, it could lead to changes in the way that real estate brokerage firms conduct business.
Sources:
https://www.inman.com/2022/02/09/houlihan-lawrence-dual-agency-case-is-now-a-class-action-lawsuit/
https://www.procareercenter.com/blog/ny-court-certifies-dual-agency-lawsuit-as-class-action/ (Link includes copies of various lawsuit documents)
