Escrow role puts broker in hot seat

Law of the Land
Published on Sep 29, 2010

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by CareyBot

Homeowner Neil Bradford signed a listing agreement under which Coldwell Banker would market and sell his Boston condo for $1.35 million.

The total commission Bradford agreed to pay under the agreement would be 5 percent of the purchase price.

Under the agreement, Coldwell Banker would pay half the commission to its own listing agent and the other half -- 2.5 percent -- to the buyer's broker or agent, according to court records (see: Zang v. NRT New England Inc.).