BrokerageIndustry News

C21, Long Island brokerage part ways

Laffey Associates, franchisor in lawsuits over franchise fees

Century 21 has terminated its franchise agreement with one of its biggest brokerages, Long Island, N.Y.-based Laffey Associates, claiming in a lawsuit that it's owed more than $280,000 in royalties and franchise fees.Laffey Associates executives confirm they have parted ways with Century 21, but say they intend to file a counterclaim in New Jersey Superior Court that Century 21 breached its obligations under its franchise agreements.In a statement, Laffey Associates said many of the counterclaims it intends to make are also the subject of a lawsuit filed by other Century 21 franchises in 2002.That lawsuit, which was granted class-action status last month, alleges that Century 21 and its parent company failed to provide the required level of services and misappropriated fees that franchisees paid into a national advertising fund.According to the attorneys who filed the class-action lawsuit, the class of affected brokerages could include at least 1,000 current and former Century 21 franc...

Comments