Closing a sale. Is there any greater feeling in the world? You have spent your time and energy prepping the house, creating buzz, getting prospective buyers in, negotiating a price, getting the paperwork done. You have poured your blood, sweat, and tears into making the sale. Now, once that is all said and done, is there any feeling worse than not collecting your full commission? Keep reading this blog to learn the rules of the road are in Florida and what steps you should follow in order to collect your full commission. Also, do not beat yourself up if you find yourself in a contractual dispute. Remember, even high-powered lawyers who have likely done nothing wrong can find themselves in contractual disputes as well. Just ask Johnny Depp’s lawyers.
What Leads to Commission Disputes
While the circumstances vary, the common thread in most disputes is that a buyer has engaged multiple realtors to help close on the same property. This is most likely due to the ignorance, not the malice, of the buyer. Odds are that a prospective buyer is not thinking about how a broker’s commission is determining when first looking at properties. Despite the fact that these disputes can often come about from simple misunderstandings, resolving them can be somewhat complicated. This is when choosing effective counsel to advocate on your behalf becomes essential.
Simple, Up-Front Questions
In many commission dispute cases, the issue can be traced back to confusion over which agent is responsible for “procuring cause.” Those outside of the industry are highly unlikely to be aware of what this term means or what significance it has in relation to how commissions work. Those in real estate understand that this term describes the agent who ultimately caused to buyer to make his or her purchase. The most effective way to avoid any confusion in this matter is to simply make it a policy to always, and I mean always, ask prospective buyers if they have had any contact with any other agent regarding any given property.
If they answer yes, then you may decide that another agent already qualifies as the procuring cause agent.
If they answer no, then take a sigh of relief. This potential sale is all yours. Also, take this opportunity to explain to the potential buyer that you will be the procuring cause agent moving forward with this property. You may have to use more layman’s terms, but it is essential to get this message across effectively.
Finding the Right Attorney
Retaining the services of a Florida-based attorney in broker’s commissions disputes is a terribly important decision. You should demand that your advocate have extensive experience and expert knowledge in this area of law. You should expect that he or she will be ready, willing, and able to fight tooth and nail on your behalf. Your lawyer should be deeply committed to ensuring that you receive every last cent that is rightfully yours. That is exactly this type of representation you would receive with Adam Law Group. With years of experience in this practice of law, no one in Florida does it better. Do not leave your compensation to chance. Contact the expert legal team at Adam Law today.