Legal Question in Real Estate Law in Illinois
Commission dispute between Residencial Real Estate Brokers
What can be done about a listing broker who refuses to honor a listing commission agreement. He has gone out of business and kept the selling brokers share ($6,300.00) of the commission.
3 Answers from Attorneys
Commissioin Dispute
There are several courses of action, and they will vary depending on what state you are in.The Selling broker can (1) Demand arbitration from the local board of Realtors. This is mandatory if both are Realtors and voluntary if both are not (Realtor designates membership in a local board of the National Association of Realtors). The selling broker can also file a complaint with the state licensing board. Finally, the selling broker can sue the listing broker for the commission.Consult an attorney regarding laws in your state.
Who are you, the selling broker?
You should talk this over with a lawyer, and I suggestyou do it soon; you may want to be sure to get a claim in before someone else does.
Refusal to Pay Commissions
Check IL law, it will control the answer to your question. In GA, you could sue the broker in State Court for breach of contract and other damages. Also, the GA Real Estate Commission would entertain your complaint against a broker for such conduct.
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