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01-17-2023, 08:31 AM #1
- Join Date
- Oct 2020
- Location
- Ontario,Canada
- Posts
- 141
Commission Not Paid What are Legal Recourse options
What legal actions can an agent pursue in collecting unpaid commissions from an ISO broker. Our client was brought to the table on these deals on a 50-50 commission split and the ISO has never paid us any commissions on these deals
What are legal recourse options?
ty
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01-17-2023, 08:49 AM #2
- Join Date
- Feb 2017
- Posts
- 3,463
First of all, make 100% sure that the deal funded and wasn't clawed back.
Secondly, work with ISO co-brokers who would actually pay you.
"Legal" recourse options are obvious.... small claims court or an alternative arbitration agreement if they agree to go.
"Other" recourse options are calling him out on DF (at your own risk) or other social media; putting a negative review on Trust Pilot or Yelp; creating a website "____sucks.com"; Or my favored method is reaching out individually to other brokers who may know this other broker to see if they negotiate the full payment of the commission.
It could be there's a misunderstanding and the ISO didn't pay yet until after the clawback or something.
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01-17-2023, 09:02 AM #3
To piggy back off Micah, the social media/web platform works if you use proper language that can not be used against you as defamation. Also, if most of your communication was done in writing through email then check to see if it has that little disclosure below the signature. Sometimes that prevents you from posting anything communicated in those emails that is not "business purpose."
If you take the DF route, come ready with actual details, be specific, this may be your shot to get paid if it's on here.
Best of luck to you.Last edited by BR-Nightmare; 01-17-2023 at 09:06 AM.
The Brokers Nightmare
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