As a real estate agent, you take great pride in helping buyers and sellers get the best deal possible. It is what drives you to get up in the morning. It is also what keeps you in an industry that is not always kind.
While it does not happen often, with many agents going their entire career and never running into trouble, it is possible that a financial dispute between real estate agents could arise.
This could be the result of: a share the buyer arrangement, an agreement to split commission earned on a sale, or a listing referral. And that is just the start.
The difficult part of financial disputes between real estate agents is that you are not likely to see this coming. It's not something you can plan for.
If you are faced with such a dispute, if you plan on fighting for the money you deserve, it is important to know your rights. While some agents expect the broker to step in and make a final decision, this is not typically the case. After all, the broker doesn't want to be a mediator as they are then stuck in the middle.
If things progress, it may be necessary for the agents to hash out the details of the arrangement in civil court. This is a big step, but in some cases it's the only way to get a final answer.
When agents disagree, when they have a financial dispute, there is no time to waste. They either need to settle the issue on their own or find somebody in New York who can provide assistance.
Source: Realty Times, "Who Will Settle Money Disputes Between Agents?," accessed Feb. 10, 2016