Pending sale while switching legitimate estate brokers?
I am a real estate salesperson in Texas. Recently I switched to a exotic brokerage. I had two pending sale contracts with the old broker when I changed to the unknown one. I am not getting my commission for those contracts. What are my options to get my commission split?
Answers: Contact your local legitimate estate board. They will mediate any dispute over payment of commission.
Doh... You should have wait till those 2 sales closed ; )
Depends on what the "exit" options are within your Independent Contractor Agreement with your old broker. Some are unyielding (a)ss and will retain your listings & pending sales, others allow you to lift your listings with you & still pay you within full on any pending sales. Others on the other hand may pay you on pending sale, but retain a portion because they can.
It's whatever you agreed to in writing when you go to work there.
You could try & fight it or complain to the MLS or Board of Realtors (if your bureau was a member) but their first question is going to be "what be in your Independent Contractor Agreement?"
With my old broker I signed a contract and within was no way I would catch the money from the sales. Look in your contract to see if anything is mentioned roughly that. Most likely are still still you companies sales... Sorry... What you should hold done is transferred them to someone you know and trust in your office, later taken a cut...(not legal but you'd get your $)! Contact you local board of Realtors and database a complaint against the broker. Good luck.
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Answers: Contact your local legitimate estate board. They will mediate any dispute over payment of commission.
Doh... You should have wait till those 2 sales closed ; )
Depends on what the "exit" options are within your Independent Contractor Agreement with your old broker. Some are unyielding (a)ss and will retain your listings & pending sales, others allow you to lift your listings with you & still pay you within full on any pending sales. Others on the other hand may pay you on pending sale, but retain a portion because they can.
It's whatever you agreed to in writing when you go to work there.
You could try & fight it or complain to the MLS or Board of Realtors (if your bureau was a member) but their first question is going to be "what be in your Independent Contractor Agreement?"
With my old broker I signed a contract and within was no way I would catch the money from the sales. Look in your contract to see if anything is mentioned roughly that. Most likely are still still you companies sales... Sorry... What you should hold done is transferred them to someone you know and trust in your office, later taken a cut...(not legal but you'd get your $)! Contact you local board of Realtors and database a complaint against the broker. Good luck.