REALTOR® Members agree to submit to arbitration for contractual and specific non-contractual disputes as defined in Standards of Practice 17-4 of the Code of Ethics, including entitlement to commission and compensation in cooperative transactions that arise of out of the business relationships between REALTORS® and between REALTORS® and their clients and customers.
The Request and Agreement to Arbitrate Form #A-1 must be filed and signed by a REALTOR® Principal of the firm. Broker associates (non-principal) cannot be a party to the arbitration request, but may attend the arbitration if they have a monetary interest in the outcome of the case. You will need to include a written statement of the situation, marked as Exhibit A or I, and any other documentation to support your request. These documents may include listings agreements, purchase agreements, representation agreements/disclosures, MLS datasheets, or correspondence. The Request and Agreement to Arbitrate and the written statement should be sent along with a check made payable to the Pikes Peak Association of REALTORS® in the amount of $400.00.
Arbitration From #A-1
Arbitration Filing Instructions
Arbitration requests must be submitted within 180 days after the closing, if any, or within 180 days after the facts constituting an arbitrable matter could have been knows in the exercise of reasonable diligence. Once the Arbitration Request has been filed the Grievance Committee will review the request to determine if the request is an arbitrable matter and whether the arbitration is mandatory or voluntary. If the Grievance Committee determines an arbitrable matter exists and should proceed to hearing, a response is then solicited by the Respondent. The Respondent will be required to submit a response and the $400 filing fee.
Parties to arbitration will be offered the opportunity to mediate during the arbitration request. Mediation is a process whereby a neutral, trained mediator facilitates discussion and helps the parties negotiate and create options for settlement. In many cases, mediation is successful in creating a win-win solution that is decided by the parties, rather than left to a hearing panel. For a current list of PPAR mediators, please call 719-633-7718, option 3. To initiate mediation, the requesting party shall pick a mediator from the list not affiliated with either company or party to the dispute. If mediation proves successful, parties will be refunded $300.00 of the $400.00 filing fee, the parties will sign a Mediation Resolution Agreement, and the matter is concluded without a hearing.
If the parties do not reach a settlement in mediation, the arbitration hearing will be conducted in privacy, and remains confidential in most cases. A panel of 3-5 experienced REALTORS® will conduct a mini-trial, hear the evidence and testimony and render a decision as to disposition of the money involved. The panel will render their verdict based on a preponderance of the evidence. The Association cannot award more than the amount in dispute, may not award punitive damages, and most cases cannot award attorney fees or interest. Either party may appeal the decision to the Board of Directors of the Association if they believe that due process was not provided. The decision of the Board of Directors is considered final and cannot be appealed.