Realtors® are obligated to submit to arbitration their commission disputes between brokerages in accordance with Article 17 of the Realtors® Code of Ethics. Arbitration hearings are conducted by the T.R.A.R Professional Standards Committee following procedures described in the National Association of Realtors® Code of Ethics and Arbitration Manual.
The hearing panel, after hearing testimony, will render a decision and shall state only the amount of the award. The Award of Arbitrators is valid and binding and shall not be subject to review or appeal. However, a party to an arbitration proceeding may appeal to the Board of Directors only with respect to such alleged irregularities occurring in the conduct of the proceeding as may have deprived the party of fundamental “due process.”
The Principal Broker(s) must participate in the process (unless the disputants are or were affiliated with the same firm, which would constitute a voluntary arbitration). The Request and Agreement to Arbitrate must be filed within 180 days after closing, if any, or within 180 days after the facts constituting the arbitrable matter could have been known in the exercise of reasonable diligence. Mediation of the matter may also be requested; however requesting mediation has no bearing on the 180-day timeframe requirement for arbitration. The filing fee for arbitration is $250.00 per party and is retained until the conclusion of the hearing. The filing fee of the prevailing party is customarily retrned.
For more information email Megan Meyer Foos at firstname.lastname@example.org or 419-535-3222.
Questions? E-mail Megan Meyer Foos or call her at 419-535-3222.