So I have a listing agreement that started in December of 2014 - May 16, 2015. The listing expired, and I recently just found out that the property went into escrow the end of April, and will be closing next week. From my understanding, this is illegal and the other broker can lose his RE license, and I believe that Im entitled to 100% of the commission. Is this true?? I talked with my brokerage and they say we need to wait until the transaction closes for us to proceed. I'm just a bit worried about the situation, and wanted to get some feedback as to what I should do, and If I am entitled to either the 2.5% or full 5% commission...
Thank You!! :)
You should defer to your brokerage for the action you take but it sounds like a pretty clear case. The other agent went around you. Unfortunately you will likely have to to sue for your fee so you have to determine how much you will spend to collect your fee. At a minimum you want to expose the other agent for fraud. You may never collect your fee but this agent will hopefully lose their license.
Thanks for your help Rob! So there might be a chance that I wouldn't even be getting the commission instead of this other agent that committed fraud and went behind my back?
I don't see why a phone call to the other agent asking for an explanation isn't in order. But overall, I would defer to the brokerage before doing anything drastic.
Do you not have a relationship with the seller such that you can just call them up and ask them what is going on? Did you have no contact with your sellers for a couple of months?
The seller is a bit weird. I've called and tried to reach out to him, but got nothing. I've been in contact with him from time to time. I was told to wait until escrow closes to contact the agent, which is why I haven't called him yet.
I'm trying to figure out if I'm likely to get the commission on that deal rather the other agent who went behind my back.
Your contract is with the seller. The real estate commission usually doesn't get involved with issues between agents and their commission disputes, only issues with consumers.....not likely they would lose their license. That would be a Realtor association/MLS issue. I don't understand why your broker wouldn't be talking to the other broker for clarification. Was the listing in the MLS the whole time? You had a 5 month listing?
You would be suing the seller not the agent. There is a possibility he does not know there is a current listing agreement. If you do something now they might just delay the sale until after all legal holds drop off.
I had the listing for 6 months from December to May, and the listing was on MLS, Loopnet, and CoStar the entire time. I feel like my broker doesn't know whats best to do. I dont know if we should wait for Escrow to close, or get things started now before the transaction closes soon.
Your local MLS has a grievance/agent dispute committee, or something similar. We have no idea what your listing contract says.
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