The South Florida real estate market is continuing to thrive. Unfortunately, the numerous real estate transactions taking place will likely result in some real estate brokerage disputes. Some brokers may have difficulty collecting on their brokerage agreements. Others may be sued by a client that believes the broker did something wrong. Our Fort Lauderdale real estate brokerage dispute attorneys have experience handling these types of cases.
A dispute over commissions between brokers and sales associates may be avoided by drafting a detailed employment agreement. An employment agreement should address commissions for the sales associate. Specific details such as the amount of the commission split, when the sales associate earns the commission, and when the sales associate will be paid should be addressed. Similarly, there are different types of listing contracts for brokers that should be drafted with specificity when signing a new client.
Another source of real estate brokerage disputes is procuring cause. Procuring cause is a method to entitle a broker to a commission if certain conditions are fulfilled. The broker must bring the buyer and seller together, begin negotiations with the potential buyer, and the seller must know that the broker has begun the negotiations. Also, the buyer and seller must come to a meeting of the minds regarding the sale of the property. These issues as well as other claims that may arise during a real estate transaction may be damaging to a real estate licensee’s business.
A real estate licensee may be able to avoid lawsuits by involving an attorney from the beginning of the real estate transaction. Our Ft. Lauderdale real estate brokerage dispute lawyers are familiar with all aspects of a real estate agreement. Allowing the attorneys at Schecter Law to negotiate, prepare, and draft real estate contracts can help avoid expensive disputes from arising in the future.