Brokers who deal with commercial properties are increasingly being denied their duly earned commissions. Given the multi-million transactions that are often involved in the world of commercial real estate in New York City, these commissions can be considerable and worth fighting over.
Many of the commission disputes commonly involve the following facts: 1) the broker claims the commission has no exclusive agreement; 2) he or she introduced the buyer or renter to the property; and 3) the owner or seller had never discussed commission terms. This common scenario results from the fact that brokerage agreements can be, and often are, oral and hence there are no term sheets spelling out the commission percentage.
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