Short Answer 
In Florida, it’s crucial for brokers and property owners to agree on a written commission rate to avoid disputes. If the commission isn’t paid, brokers have legal rights, including imposing a lien on the sale proceeds, ensuring they receive compensation. Many states have similar laws to protect brokers and ensure proper compensation for their services.
Step 1: Understand the Commission Agreement
In Florida, when a broker and a property owner enter into a real estate transaction, they typically negotiate a commission rate. It’s vital for both parties to clearly outline and agree to this rate in writing to avoid future disputes. Understanding this agreement forms the foundation of any transaction relating to commercial properties.
Step 2: Know the Broker’s Rights Under the Law
If a property owner fails to pay the agreed commission rate, Part III of Florida Statute 475 grants the broker specific rights. This includes the ability to impose a lien on the net proceeds from the property’s sale. This lien serves as a legal claim on the proceeds, securing the broker’s right to collect the owed commission once the property is sold.
Step 3: Recognize the Broader Legal Framework
It is essential to be aware that Florida is not alone in this practice; many states have similar laws to protect brokers. These regulations serve to ensure that real estate professionals are adequately compensated for their services. Familiarizing yourself with the laws in your state can help both property owners and brokers navigate their responsibilities and rights effectively.