New York Lawyer

Broker Commission Recovery

Are you a broker that has been owed commission and haven’t been paid? If so, our firm is ready to represent you in recovering your commission in a quick and efficient manner.

Broker's Commission Resources

When is the broker’s commission owed:
Under New York State Real Property Law, a broker is owed their commission when she procures a ready, willing, and able purchaser.

Types of Listing Agreements

Open Listing – Any broker that procures a ready, willing, and able purchaser is entitled to their commission. There can be many brokers as the parties wish to have.

Exclusive Agency Listing – The broker who lists and markets the home is entitled to their commission if the home is sold through any broker. However, if the owner sells property themselves, the broker is not entitled to their commission.

Exclusive Right to Sell Listing – Broker is entitled to their commission no matter who procures the purchaser, even if the owner himself sells the property.

Multiple Listing (MLS): Individual brokers list the property on Multiple Listing Service, MLS, that can be seen by other brokers who subscribe to MLS. If a sale is made by someone other than the broker who took the listing initially, the commission is divided between the listing and selling broker.

Broker Commission Recovery: Lawyer's Publications

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