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Arbitration by its nature is contractual. That is, parties to arbitration agreed through some type of contract to be obligated to arbitration. In addition, parties may agree to arbitrate disputes either before or after the dispute arises.
Disputes subject to arbitration include:
- Disputes with other members arising out of the real estate business and their relationship as REALTORS® and
- Contractual disputes with a member’s client arising out of an agency relationship between the member and client provided the client agrees to submit the dispute to binding arbitration using the Association’s facilities and be bound by the arbitration award.
As a general guideline, the types of disputes that arise out of the real estate business are those that arise between members when acting in the capacity of their real estate licenses and that involve monetary disputes, such as a procuring cause dispute over a commission.
With respect to MLS participants and subscribers, they agree to arbitrate disputes that not only arise out of the real estate business, but must be in conjunction with a listing filed on the MLS.