 |
1) If your employing managing “Broker” (or if you are the Broker) wishes to file an arbitration request to pursue a monetary claim arising out of a contractual dispute (or Standard of Practice 17-4) with another REALTOR® principal, the Broker must complete the Request and Agreement to Arbitrate Form (A-1), stating the justification for and amount sought and the date the dispute arose. 2) Sign/Complete Form A-1 (A-2 for non-members) and mail to SMDRA, attn: Melissa Maldonado. A clearly-written explanation of why he or she believes he or she is owed the money should be included with any supporting documentation (contracts, e-mails, etc…). A filing fee of $250 must accompany an arbitration request. If the matter is resolved through mediation, both filing fees are returned to the parties. If a hearing is held, the filing fee is returned to the prevailing party. 3) A non-principal cannot be a party to an arbitration request, although they may attend the arbitration if they remain affiliated with the Broker, maintain REALTOR® membership, and have a monetary interest in the outcome. 4) A Non-REALTOR® member may also file an arbitration request if they agree to be bound and abide by the award of a Hearing Panel. (Request for Arbitration Form Nonmember) 5) Once filed, the Grievance Committee will review the Request for Arbitration to determine if the request is an arbitrable matter and if the matter is voluntary (requires member agreement) or mandatory for our member. (Arbitration - Mandatory or Voluntary) 6) The term “arbitrable matter” is defined as those contractual disputes or specific non-contractual disputes as defined in Standard of Practice 17-4 of the Code of Ethics, including entitlement to commissions and compensation in cooperative transactions that arise out of the business relationships between REALTORS® and between REALTORS® and their clients and customers. (Arbitrable Issues) 7) If the request is determined to be an arbitrable matter and the Grievance Committee determines that the matter should proceed to arbitration, a response is then received from the respondent. Prior to a formal hearing date being set, both parties will be offered mediation. 8) Requests for arbitration must be filed within 180 days after the closing of the transaction, if any, or within 180 days after the facts of the matter are known. Please cite the date within your complaint. 9) The Association can only award “actual” damages (the amount of money that was actually due) not amounts that are “punitive” (designed to punish one side).
Benefits of Mediation during Arbitration:
|
