Only brokers can file a request for arbitration. We will need the following information from the broker in order to begin the process:
- Name of the two brokers
- Name and address of the two brokerages
- Name of any agents with a financial interest in the transaction
- Date of Settlement/Lease signing
- Address of the property
- Amount of commission in dispute
Once we receive this information, we will then create the paperwork necessary to file the claim. When the requesting broker submits the completed paperwork, accompanied by a $500 check and supporting documentation, we will forward the paperwork to the responding broker.
Once we receive the responding broker’s response, the case will be forwarded to the Grievance Committee for initial screening.
Mandatory vs. Voluntary
In the event of a monetary dispute between brokers which cannot be resolved amicably, Realtors® agree to resolve these monetary disputes with other brokers at their local association. When one party who is eligible to use the association's Arbitration services submits the claim to NVAR, then the other party may be obligated to participate in arbitration and abide by the arbitrators' decision if the case is classified as mandatory.
In arbitrable cases, NVAR's Arbitration Committee convenes a panel of impartial, unbiased, and experienced Realtors® to consider your case. Designed to ensure that the due process rights of all parties are protected, claimants and respondents may be represented by attorneys, call witnesses, present evidence, and challenge the qualifications of the panel members selected to hear the case.
The parties also enjoy a limited right to request a procedural review or file a legal challenge to the decision if they believe that there were procedural deficiencies or other irregularities that constitutes a deprivation of due process. However, this is not an appeal on the decision itself, only the procedures used in conducting the hearing.
If you have any questions, please contact the Professional Services Department at 703-207-3212 or email us at email@example.com