The only proof I have is via email. She promised me $2,500 back from her commission and then after closing she told us she wouldn't pay us. What can I do?
2007-02-26 04:07:45 · 13 answers · asked by Kurt W 1 in Business & Finance ➔ Renting & Real Estate
Her company got $11,000 commission. I'm not sure how it had to get split but she promised us $2,500. It gets a little weirder because it was a co-workers mom. I will most likely send the email proof to her boss and see what happens.
2007-02-26 04:28:58 · update #1
That seems like a lot, and doing it that way SHE has to pay the income tax on the money too, so she is out more the 2,500, more like 4k. Usually the credit (which is really common) is given in the escrow, so that she won't have it recorded as income. Check over your documents, you will likely see that it is in there.
2007-02-26 04:29:30 · answer #1 · answered by Anonymous · 0⤊ 0⤋
1. Refunding commission to a person who does not have a license is illegal in many states. Check the laws.
2. There should be a managing broker for the office. The brokerage actually earns the commission and then pays the agent a percentage. The managing broker is supposed to be the person that all complaints go to.
3. The Realtor board in the local area will have a complaints facility. Check with them.
4. Agents are regulate by the state and will have a way for consumers to file a complaints.
Depending on the facts and the regulations the agent might lose their license to practice.
Note that the commission is not that high when you look at the price houses sell for. The agent might be getting as little as 25% of the total commission on the deal. Maybe more. All of that said the amount is not really part of the underlying issue so really should be ignored. Focus on the promise and what the law allows.
Note that if it is illegal for a refund to be paid to you it could turn out that you will receive nothing. You can not force someone to break the law. In some states it can be a crime for you to take the refund as you then look to be earning a commission without a license.
John Corey
2007-02-26 23:52:26 · answer #2 · answered by Anonymous · 0⤊ 0⤋
In the US you have a three day right of rescission but only on refinances on your primary residence. If it's within three days and you refinanced then you can fax a sheet that will have come with your closing package to the lender and cancel the loan.
If you took the mortgage out for a purchase then there isn't a lot you can do apart from maybe go to the Dept. of Financial Services in the state your in and ask them where you stand, but before you do call your agent and tell them that you are going to do this as it may change her mind as to paying you.
Finally check your closing statement as this will show you how much they got paid and if it is $2500 or less then you are asking them to give up their income which is a bit unfair, I mean would you work for nothing?
2007-02-26 04:21:45 · answer #3 · answered by bassmonkey1969 4 · 0⤊ 0⤋
If she is just an agent, talk to her sponsoring broker. The IDFPR is the real estate governing body, and they have created a strict set of ethics to keep things like this from sullying the Realtor name.
Talking to someone in the National Association of Realtors might be your best bet. They are the one's who enforce the liscensing on a local level. If they revoke the ladies membership, she will lose her career. Even if you don't get your money (which you may not) you might prevent her from screwing the next person down the line. Maybe even the threat of action would be enough. And an email might be enough proof. Who knows. Take action.
2007-02-26 04:36:18 · answer #4 · answered by ericamp19 2 · 0⤊ 0⤋
If there is any written documentation then yes, I would see a lawyer and get advise; if the amount of money is even worth all of that. Normally, if there is no signed proof then you will just have to go to an arbitrator because small claims court probably will not take the case. Because according to law, if you buy something over the internet or phone or an agreement is made and there is no signed documentation then the contract is not valid. If its just your word against hers, then no.
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2007-02-26 04:10:51 · answer #5 · answered by April B 3 · 0⤊ 0⤋
Why are people talking about a refi? It seems like a sale to me. Any money that an agent is going to give to a seller or buyer has to go on the HUD statement.
If it is not recorded there then she could be in more trouble than just this, it is illegal to give cash gifts of that amount to either a buyer or a seller.
I would call her broker
2007-02-26 12:29:49 · answer #6 · answered by frankie b 5 · 0⤊ 0⤋
Email correspondence is valid written proof in the USA court system. You can sue her in Small Claims Court. You don't need a lawyer.
2007-02-26 04:10:49 · answer #7 · answered by kja63 7 · 0⤊ 0⤋
That's tough. She can claim she didn't write the email. However, if you can PROVE that SHE sent you this email (the best way would be to get her to admit that she did), then it becomes as binding as "in-writing." Courts uphold the validity of email agreements as long as the authenticity of the email is not disputed.
It's always best to get this stuff in writing.
2007-02-26 04:11:08 · answer #8 · answered by Scotty Doesnt Know 7 · 0⤊ 0⤋
In case she gave you a valid reason for not paying up, i would make a copy of the e-mail and sue! simple as that, some people just take advantage unless you do something about it.
2007-02-26 04:11:30 · answer #9 · answered by shelly 1 · 0⤊ 0⤋
Take the email to her employer. If she does not have an employer, report it to the BBB. If they can do nothing, take her to small claims court. That is the same as a contract, if she said she'll pay you.
2007-02-26 04:13:10 · answer #10 · answered by capnemo 5 · 0⤊ 0⤋