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  1. #1
    Join Date
    Dec 2007
    Posts
    2

    Default Broker Of Real Estate Company Never Paid Commission By Owner Of The Company

    I was brokering a real estate company in Iowa on a temporary basis until the owner of the company, who only has his sales person license, could obtain his Broker's license.
    We had a verbal agreement that i would broker the company for one year and he would pay me a certain commission split.
    I originated several deals and was always paid by the owner what I was owed. I had a situation come up where it was a conflict of interest for me to broker his company any longer and had to transfer my license. I communicated this with him (and have documentation) for several months, that I would be leaving once he finished his classes to obtain his license.
    By his choice, he chose to not complete the classes. I left the company anyway. Being that I was the Broker of the office, he had to shut the company down when I left since he did not have a new broker.
    There was a transaction where I represented the buyers that closed 6 days after I left. The owner of the company told me he is not paying me my commission. I worked with these buyers (and have documentation) for over 7 months and showed them over 30 homes. The owner of the company was aware of this transaction before I left and agreed that he would pay me my commission...which he later decided not to.
    I am taking him to small claims court next week.
    Since I was the pro-curring cause of the sale, and the broker at the time, am I owed my commission?

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Broker Of Real Estate Company Never Paid Commission By Owner Of The Company

    Do you have anything in writing to back up your claim? Has this person answered your complaint and, if so, why does he say he shouldn't have to pay you?

  3. #3
    Join Date
    Dec 2007
    Posts
    2

    Default Re: Broker Of Real Estate Company Never Paid Commission By Owner Of The Company

    i have nothing in writing from the owner of the company as far as him agreeing to pay my commission. in iowa you can not accept a real estate commission unless you are a licensed broker. the owner of the company is not.
    i do have the track record of what my past commissions have been.
    i do have a form that is signed by the buyers stating that i represented them for metro iowa real estate.

    the owner of the company is still calling me to date to help him close out transactions that originated when i was the broker, which i am obligated to do, or i could be fined by the real estate commission.

    the owner did respond to the small claims judgement as "not guilty".

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