how long can a real estate broker hold commissions before paying to the salesperson?

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how long can a real estate broker hold commissions before paying to the salesperson?

I am a NJ real estate salesperson. How long can my broker hold earned commissions before they must pay me?

2007-10-23 13:59:15 · 2 answers · asked by instymitch 1 in Business & Finance ➔ Renting & Real Estate

2 answers

The answer to that lies in your contract which you signed with the broker of the firm. State law indicates that the BROKER is entitled to the commission. If you didn't sign any agreement, legally the broker NEVER has to pay you. Check your contract.

2007-10-23 14:21:48 · answer #1 · answered by acermill 7 · 1⤊ 0⤋

Refer to your broker's Policies and Procedures. If no satisfaction, go to small claims court or hire an attorney.

2007-10-23 16:41:36 · answer #2 · answered by Carly Jacks 6 · 0⤊ 0⤋