Corcoran Group to former client in Palm Beach Gardens: You owe us $130,000

ballenisles

Corcoran Group says the would-be seller of a BallenIsles mansion owes it $130,000.

The real estate brokerage this week sued Eugene H. Rosen and Vivian Rosen of Palm Beach Gardens, saying they pocketed a deposit they were contractually obligated to share with the listing agent.

The Rosens listed their house last year for $3.7 million with Illustrated Properties, according to Zillow. In March, they hired Corcoran Group as their listing agent and lowered the price to $2.8 million.

This summer, the Rosens accepted an offer that included a $260,000 deposit, according to the lawsuit. The deal fell through, but the Rosens kept the $260,000. Corcoran Group, a unit of New Jersey-based Realogy Holdings (NYSE: RLGY), says the Rosens received the cash only because of its efforts to sell the property.

A couple of intriguing details: Despite evidence that real estate commissions are falling, especially for high-priced homes, the Rosens agreed to pay Corcoran a full 6 percent fee. And Eugene Rosen, 76, was licensed as a real estate broker in Connecticut a decade ago.

The Rosens’ 8,500-square-foot palace remains on the market, although with a lower price ($2.7 million) and a new real estate broker (Leibowitz Realty Group).

No parking? Delray Beach real estate company launches free shuttle

corcoran

Here’s a creative way to market real estate: Starting Saturday,¬†the Corcoran Group’s office in Delray Beach will provide free shuttle service to folks frustrated by the lack of parking near the beach and Atlantic Avenue.

Corcoran says the shuttle can hold five passengers and will run from 11 a.m. to 11 p.m. every day. You can order a ride from Downtowner.

The shuttle is outfitted with iPads showing videos and information about Corcoran.