Featured News 2015 When to Call a Lawyer in Your Real Estate Dispute

When to Call a Lawyer in Your Real Estate Dispute

When you choose a broker for a commercial real estate transaction, you will likely have to sign a contract detailing your agreement. While this contract can work to ensure a working business partnership between you and your broker, there is no guarantee that everything will go according to plan. While some problems with your broker can be taken care of on your own, there are some cases where you should call a real estate attorney to step in and protect your best interests.

The first step when you are having trouble with your broker is to speak directly to them about the concerns you are having. Some common concerns people raise with their broker is their inability to answer questions, actions that steer you away from properties that you like but have a lower price tag, their willingness to gloss over red-flags in their eagerness to close the deal, and any withholding of important information from the landlord or their real estate broker. Many times, having an honest conversation with the broker may be enough to rectify these concerns.

Talking isn't working, so now what?

If speaking does not work, you may want to bring in an attorney to help mitigate one of the following:

  • Speaking with the broker's boss about their actions
  • Filing a grievance with a local real estate board
  • Contact the state licensing authority
  • Arbitrate or mediate the dispute with a legal team
  • Fire the broker

Choosing to fire your broker should be the final step. When breaking this contract, you will want to show that you have legal grounds for doing so, which may include breach of contract or breach of fiduciary duty. Look through the contract and see if there was anything outlined in the original agreement that the broker failed to uphold. If not, check to see if there was any instance where the broker was not loyal to your instances. If either of these apply, you will have the legal right to break the contract.

Working with a real estate attorney can help ensure that you are within your legal means when you end your contract with the broker, or for any legal disputes that arise beforehand. Without an attorney, you may find yourself having to pay the commission to your first broker or being liable for hidden fees.

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