REALTORS® are required by the Code of Ethics to Arbitrate, rather than litigate when financial disputes arise. The local Association administrates the Arbitration proceeding, which requires that parties attend a professional standards hearing. Prior to a hearing and upon receipt of an arbitration request, mediation shall be offered to the parties. The hearing panel is made up of REALTORS® who determine which party should be awarded the amount in dispute.
Please use the documents below for instructions and filing.
Mediation is a process where both parties present their dispute to an objective third party, the mediator. The mediator is a trained facilitator. The mediator’s goal is to identify and diffuse the emotions to clear the way for the parties to reach an amicable resolution. The desired result of a mediation conference is a decision mutually agreed upon by the parties as to how to disburse the disputed funds. Should the parties be unable to reach a mutually acceptable resolution, the matter will be brought before an Arbitration Hearing Panel.
Participation in mediation is voluntary. All parties will be offered the opportunity and encouraged to participate in the mediation process in good faith and to abide by the determination. The parties to mediation should be aware that they may withdraw from the process at any point prior to reaching an agreement. Any offers of settlement that were not accepted or any suggested resolution proposed by the Mediation Officer that was not accepted will not be introduced as evidence nor considered in any manner should the matter require arbitration by the Association’s Professional Standards Committee. However, if the parties agree to a settlement of the dispute, and the settlement has been reduced to writing and has been signed by all of the parties, the matter is deemed resolved and cannot be the subject of a subsequent arbitration hearing. In the event either of the parties later fails to abide by the terms of the settlement, the matter may not be arbitrated; instead, the other party should be encouraged to have the settlement agreement judicially enforced by a court of competent jurisdiction.
If you would like to participate in Mediation please fill out the Agreement to mediate form along with your Request for Arbitration paperwork. Both parties must voluntarily agree to mediate.
You can submit your forms to the attention of Lisa Frey, Director of Professional Development