Arbitration
Mediation Before Arbitration
According to Section 44 of the National Association of REALTORS® Code of Ethics and Arbitration Manual, an arbitrable matter exists when there is a monetary dispute between two managing brokers of two separate offices as it relates to co-op commissions. By becoming and remaining a member of Lakeland REALTORS®, every member agrees to submit to arbitration by the Lakeland REALTORS® facilities as defined in Article 17 of the Code of Ethics. Keep in mind that Lakeland REALTORS® offers mediation prior to arbitration. Once our Grievance Committee has determined that an arbitrable matter exists, a mediation conference may be scheduled. If the parties agree to mediate and the mediation is not successful, an arbitration hearing will then be scheduled. As we have realized a 90% success rate for mediations, we hope that we can avoid arbitration!
What do I need to include to file for arbitration?
So that our Grievance Committee can properly review your complaint, please ensure the following:
- A timeline of events leading up to the closing are included
- Dates of events are included so that Grievance can determine if the request is filed on time
- All appropriate parties are named
- The Managing Broker is filing and signing the complaint
What will happen to my case next?
Your case will go to the Grievance Committee who acts as a grand jury and reviews each case to determine if it should go to a hearing. You will need to supply enough information for the Grievance Committee to determine if a co-op (between two brokerages) dispute exists and or to determine if there was unethical conduct on the part of the REALTOR® about whom you are complaining.
