Legal Question in Real Estate Law in California
Commission compensation
I closed a loan where I was the loan officer and my broker wouldn't pay me. His # is now disconnected. What can I do?
3 Answers from Attorneys
Re: Commission compensation
He is registered with the Dept of Professions and Licensing. Contact them. He should have a bond posted with his license, you may be able to attach the bond. File a complaint with that office. You will probably have to sue him to get your money. If less than $5,000 you can go to small claims court.
Re: Commission compensation
If you cannot get voluntary payment, you will probably need to file a lawsuit in order to collect. Individual plaintiffs can now file a small claims lawsuits for up to $7500. But before you file thet lawsuit, you may need the services of a skip tracer to file the defendant so you can serve them. Contact my office is you need further assistance.
Re: Commission compensation
If you performed your portion of the contract, you would have a right to the commission and can bring an action against the broker. Even if his phone is disconnected, he can probably be located through the Department of Real Estate or Dept of Corporations depending upon the type of license he has.