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Law Educator, Esq.
Law Educator, Esq., Lawyer
Category: Real Estate Law
Satisfied Customers: 111567
Experience:  Licensed attorney practicing landlord-tenant, land use and other real estate law and litigation.
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A Real Estate Brokerage (Broker took out a E-commission) on

Customer Question

A Real Estate Brokerage (Broker took out a E-commission) on a particular property scheduled to close in the future. However, closing of another property took place prior to the property assigned to pay back the loan taken out by the individual. The first closing happen to be Listing side agent (company 1) and buyer side agent (also Company 1) but different Agent. Title company providing the closing without knowledge from either listing agent at the time of closing takes the entire amount of Buyer Agent loan for repayment plus takes a portion of Listing Agent commissions for repayment without notifying either. When Commissions comes in both were upset and Title company states it was a e-commission and they have a right if both sides are the same company to take the funds. Listing side had nothing to do with the e-commission. Question: Is this legal?
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Law Educator, Esq. replied 1 year ago.

Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.

While the title company may take out the e-commission, the listing agent who had nothing to do with this is still entitled to their full commission without regard for the ecommission and that is the issue of the broker who took the ecommission that the title company took out to make up for the listing agent who was not involved in the ecommission. So, the listing agent has a claim against the company they work for to make up the commission difference that they are due.