Key facts
- A former Christie's International Real Estate affiliate, now operating as The Agency One Rock, is facing a commission dispute in New Jersey.
- Agent Stephen Braconi alleges the firm owes him over $145,000 in unpaid commissions and charged him over $75,000 in unfair fees.
- The brokerage counters that Braconi owes them nearly $40,000 in unpaid fees and was overpaid due to reduced commission splits.
- A court denied Braconi's request for a temporary restraining order to freeze the firm's funds.
- Christie's International Real Estate terminated its franchise agreement with the affiliate earlier this month.
A former Christie's International Real Estate affiliate, which recently aligned with The Agency to form The Agency One Rock, is facing a significant commission and fee dispute in New Jersey. Agent Stephen Braconi filed a lawsuit alleging the firm failed to pay him over $145,000 in commissions from deals closed in late 2025, despite a contract stipulation for payment within 10 days of receiving funds. Braconi also claims to have been charged over $75,000 in unfair fees, including technology and desk fees, according to an amended complaint.
The brokerage has counterclaimed, asserting that Braconi owes them nearly $40,000 in unpaid fees. They allege that Braconi was overpaid for several months after reaching an annual gross commission income of $1.35 million, which triggers a reduction in commission splits. The counterclaim also accuses Braconi of violating non-solicitation terms after leaving the brokerage in late 2025.
A New Jersey Superior Court denied Braconi's request for a temporary restraining order to freeze the firm's funds. Oral arguments for the defendants' motion to dismiss the lawsuit are scheduled for Thursday. Separately, The Real Deal reported that payment issues have been pervasive at the brokerage for years, with some agents claiming to wait months for payment, potentially violating New Jersey Department of Banking and Insurance regulations. Earlier this month, Christie's International Real Estate terminated its franchise agreement with the New York and Northern New Jersey affiliate, citing the need to protect the brand's integrity.