Former Christie’s International Real Estate affiliate hit with commission dispute

Earlier this month Mauricio Umansky’s firm The Agency made a splash in New York when it announced the affiliation of a 1,200 agent strong former Christie’s International Real Estate affiliate and the creation of The Agency One Rock. 

While the firm’s strong agent count and 26 offices spread across New York City, Westchester County, the Hudson Valley and New Jersey, look like a massive get on paper, agents at the former Christie’s International Real Estate affiliate say things are far more complicated. 

In early January 2026, Stephen Braconi, an agent who was brokered by the former affiliate until late 2025, filed a lawsuit against the firm, its New Jersey operation and Darlene Bandazian, its broker of record, alleging that the firm left commissions that were owed unpaid and accusing the firm of unfair charges. The suit was filed in a Bergen County-based New Jersey Superior County Court. 

In the complaint, Braconi claimed that the company has failed to pay him over $145,000 in commissions related to deals that closed in late 2025. Additionally, he claims that this comes after a provision in his independent contractor agreement with the firm stipulates that the firm will pay its agents within 10 days of receiving funds from a closed deal.

Unfair and fake fees charged?

In an amended complaint filed in April, Braconi claimed the firm had charged him over $75,000 in unfair and fake fees including technology and desk fees. The amended complaint also removed most of the claims of unpaid commissions, but it did include allegations of wrongfully reduced commission splits and withholding over $17,000 in commissions on a closed deal. Additionally, the amended complaint also claimed that the brokerage failed to pay Braconi in a timely fashion and did not provide him with “a complete and comprehensive written explanation” of its alleged delays in payment. 

The brokerage filed a counterclaim against Braconi in March, alleging that he owed the brokerage nearly $40,000 in unpaid fees and that it had actually overpaid Braconi for several months at the end of last year after he reached an annual gross commission income of $1.35 million, which the firm said triggers a reduction in commission splits. The counterclaim also alleges that Braconi violated non-solicitation terms in his contract after he left the brokerage in late 2025. 

The court has rejected Braconi’s request for a temporary restraining order against the firm, which was seeking to freeze the firm’s funds. Oral arguments for the defendants’ motion to dismiss the lawsuit are scheduled to take place this coming Thursday. 

The Agency One Rock did not respond to HousingWire’s request regarding Braconi’s allegations. 

Payment issues have been pervasive, says one industry site

In addition to this lawsuit, The Real Deal published a report last week stating that agents at the firm claim that payment issues at the brokerage have been pervasive for years, with some agents saying they have waited months to be paid for deals. They claim that this violates regulations from New Jersey’s Department of Banking and Insurance that generally require brokers to pay agents within 10 business days of receiving a commission.

Earlier this month, Christie’s International Real Estate terminated its franchise agreement with this New York and Northern New Jersey affiliate. At the time, a spokesperson for the brand told HousingWire in an emailed statement that the “decision was not made lightly.” 

“However, it was ultimately in the best interests of the Christie’s International Real Estate brand and our global affiliate network,” the statement read. “Christie’s International Real Estate remains fully committed to the New York and Northern New Jersey markets, and we look forward to continuing to build and strengthen the brand in these markets.”

In a statement sent on Monday, a spokesperson told HousingWire the decision to terminate the licensing agreement was made in order to “protect the integrity of the Christie’s International Real Estate brand.”

“We recognize that many real estate professionals in New York and New Jersey have built successful businesses under our banner and remain deeply committed to it,” the spokesperson added. “We have tremendous respect for these agents, and we are focused on ensuring they will have a strong platform to continue growing their business with Christie’s International Real Estate in these markets.”