Legal Question in Real Estate Law in California
Realtor's Commission
I work for a national real estate firm. I would like to quit and go to another company within the next week. I have no active escrows, but I have a client who wants to make an offer on a property this weekend. I was given this ''lead'' by my current manager and was able to find her a property that she liked. Although nothing is actually in writing, the lead came with the understanding that the referring agent at another office of my current firm will receive a 25% referral fee.
My questions are:
If this property is in escrow when I leave, what rights do I have to any or all of the commission?
Am I doing anything illegal or unethical if I ''give'' this lead to a friend who is an agent at the firm I plan to move to next week? Would they be liable for the 25% referral fee?
My license has to go from the old firm to the new. How soon can I represent the new firm? Immediately upon notifying my former company that I am leaving or do I have to wait until they actually deliver a copy of my license to the new office?
1 Answer from Attorneys
Re: Realtor's Commission
Your questions raises all of the issues of unfair competition that you can imagine. You see it says raises the issues and along with that asks a great deal of questions. Your fax are insufficient for me to give you an immediate advice. The question I have initially is how much is all of this work. One of the dollar amounts involved. I'm not telling you to given up but I'm telling you that you are better off being straightforward even in the tape business that breeds backstabbing began trying to backstab and then have to pay for litigation afterwards were you are a defendant. Yes my son/daughter your questions really say how can I get my dollars, get out of the company can stay away from a courtroom. So here is my clear advice, immediately, yesterday, get the two-way real estate attorney/business attorney who understands the real estate business and the consistent transferring of agents in that business from one brokerage to another. The deal with this problem which is not unique but which has its own particular set of facts with that attorney. You see, you need help regarding a set of facts which would not fully disclosed in which could cost you not just money but reputation in a community of real estate people. Think ahead and look at the big picture.i have been practicing law in this speciality for over 30 years in the san francisco bay area and if you wish to consult with me you can contact me at 925-945-6000.
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