Are they hold your commission because your file in not complete? IF you are missing any forms, get them in ASAP!
Some brokers will hold an agent's commission if the file is incomplete. They will do this even if the agent is not moving to another office.
Now, if your file is in order there is no reason for the broker to hold your commission!
You have the right to change offices at will.
If your file is in order, make a written request for your commission via certified mail. You should include a copy of your contract which should clearly state your commission percentage. A copy of the escrow instructions which outlined the commissions should also be included.
If for some strange reason the broker flat out refuses to pay you, you will have to take legal action as well as file a formal complaint with the proper governing body in your state
I sure hope you can get this resolved without having to take legal action.
Best of luck ,
Kawain Payne, Realtor
Prudential California Realty
This may prove to be an expensive lesson. You are soon to realize that the entitled compensation is just the tip of the iceburg. The old broker will not sign the release allowing you to move to a new brokker untill every single i is dotted and t crossed on ALL of the files in which you were involved.
If for instance if all signatures are not present on an escrow release of a four year old transaction, your former broker can hold you hostage, preventing your from starting business with a new broker for an extended period of time. ....of course it's relatitory.
Don't forget those leads the old broker may have given you....you will be shut out of the old brokers CRM and your leads distributed to office agents while you are present....of course it's retalitory.
Your new broker should have anticipated these actions and prepared you months ago. If your new broker did not, you may have jumped from the frying pan into the fire. Read those contracts and remember....EVERYTHING is NEGOTIABLE. The more business you represent, the better terms you can get.
Best of success,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor FL
Move to the Front of the Line (FirstLookHomes.us)
If your broker wont budge, the dont make the transfer till you are paid. Other than that if its not in writing or in your contract, you have to remember the listing belongs to your Broker and taking them to court will not do any good, its their listing and they will tell you if you will be paid for it . I would never work for a company who would not agree to release my listings to me .
Start by asking your new broker. Check your previous employment contract and see what terms for your situation may be addressed. If you feel or believe you are being treated wrong or outside of your contract, contact the state licensing department.