Legal Question in Real Estate Law in New York
Who repays the client?
I was a real estate agent with a broker that I am no longer associated with. While I was associated with this broker I worked a deal where there was going to be a lease signing that yielded a $10,800 dollar fee. The broker cut me a check for half of this fee $5400 and was aware that the lease had not been signed The deal ended up falling through and I tried for 90 days to find the client an appropriate apartment. The client deceided not to seek an apartment and after 90 days asked for the fee to be returned. The broker I was associated with is trying to pressure me into returning the $5400 immediatly. I do not have the funds to do this. As well the reason that I am no longer associated with this broker is because he mismanaged a previous deal that I did complete and owes me about $1200 dollars.
pSince the client paid the broker directly and not me, the broker is responsible for paying back the client the full amount that was paid by the client. As well, am I justified withholding the $1200 from the $5400 that I owe the broker. The broker is trying to say that I commited fraud. I did not misrepresent myself to anyone and I was diligent in my effort to find the client an apartment. Please grant me some guidance
1 Answer from Attorneys
Re: Who repays the client?
It really all depends on the terms of your agreement with the broker. However, if the broker legitimately owed you only $1,200 and you did not earn the $5,400 you should probably return the difference, as the broker is less likely to take action against you for a small amount of money that you are actually entitled to than a larger sum which you are wrongfully withholding.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
