BrokerageIndustry News

Atlanta broker, GMAC Real Estate split

Metro Brokers sued for alleged unpaid fees
Published on Oct 26, 2009

Get Inman via Facebook Messenger
Our top headlines delivered once a day.
by CareyBot

GMAC Real Estate LLC and one of its largest franchisees, Metro Brokers Inc., are parting ways, with GMAC claiming in a lawsuit that it's owed nearly $350,000 in unpaid fees and other losses on a 10-year franchise agreement that wasn't due to expire until 2014.

Atlanta-based Metro Brokers, which boasts 2,100 agents at 26 offices, maintains that the company terminated its franchise agreement on Oct. 1 because of doubts about the direction in which GMAC Real Estate's parent company, Brookfield Residential Property Services, is taking the franchise.

Comments