Question: I have no employment contract with my broker in the State of New York. I am considering moving to another agency, is it legal for him to withhold my commissions in the pipeline?
I live in CT and commute to NY every day so I'm considering moving to a CT brokerage to save myself the time and hassle (plus my broker is terrible, if you couldn't already tell.) Is he allowed to do this? Would I be better off contacting a lawyer? Or the BBB? Any thoughts or experiences like this?
[{"id": "c9mm2l6", "text": "Just slack off until the $ comes in. ", "replies": [], "depth": 1}, {"id": "c9mq4fe", "text": "I know a broker in this position.  Left to start his own firm and prior firm is withholding his commissions.  \n\nI've never been an active agent/broker so I'd really like to hear from other commercial brokers on this.  How common is it to not have a commission agreement?  I really can't imagine that I'd take a job as an agent without one.  The broker I know has several hundred thousand dollars in commissions held back.  Without an agreement, I'm not sure how the broker can't just make the claim that commissions are only earned when you're actually employed by the firm when the transaction closes.  I'm not even sure that's an unreasonable position.  Beyond that, without a commission agreement, what happens when the broker decides to pay you $500 on a transaction instead of whatever split you expected?  Edumacate me, brokers...", "replies": [], "depth": 1}, {"id": "c9pdbe7", "text": "Raoul___duke nailed it, at least in my state. A good point though is to see what's in your independent contractor agreement. Also, before you go to a new firm, see what's in THEIR IC agreement. I wouldn't go to work for a company that operated that way. ", "replies": [], "depth": 1}]