A Few moths ago I had to go to Court to prove that I had listed Business and I advertised it, but I didn't receive my compensation after the business was sold!

In the beginning of September 2006, I have been hired to sell 60% share of the Melrose Pita Café a partnership business restaurant for 3 partners. Owners of Pita Café" Defendants" agreed to sign Exclusive Right to Sale Agreement. 60% share was for my client and his younger brother and 40% other for another party.

At the time of writing the listing agreement, I decided to have all parties initials and signatures to make sure at the time of transferring the business, I have prove of all partners were agreed to sell the 60% share.

During the trial, my client and his brother didn't show up but the partner with 40% share was present.

First, he decided to deny that he was aware of selling the business in any ways. But after I showed his signature on the listing agreement, he had no choice other then acceptance. He objected that he didn't know if the 60% share were sold at all, however, after judge asked him: "where were your partners?" He answered: "they are out of country". Judge asked me "why you requested signature from the person who had not interest of selling his share?" I answered: "I needed to be sure he had an agreement with his partners in order to sell their share and prove of the agreement in future reference."

Finally, Judge ordered in favor of Century21 Coast to Coast Realty "My Brokerage Firm" to receive 10% compensation from the listing price and the amount must be paid not from DBA that was sued but from the previous owner of 60% share" my client".

I came out from courthouse very happy and proud that I was lucky and I had got signature from all parties. I could have difficulty to explain the situation otherwise.

Also, I was happy that I organized and prepared all pictures of the Business that I had used for advertising and my phone records as well.

After all, I had an accurate Business Listing Agreement and most important all performances of the Business on Point2Agent website available for print to show to court that was prove of the business was advertised and performed on my website. Overall Listing Agreements, pictures, point2Agent, and phone records together helped me to prove my honesty and integrity of my work and I received the accepted result.

At the end, thank to Point2Agent for your help in this matter.

 

2 Comments on Business Listing!

SEP
20
2007
5 Featured Posts
Peyman, CYA is a must in our business.  Documentation, documentation, documentation!  Congratulations!
11:15pm • #1
SEP
21
2007
Good job on the details and I love point 2 as well for three years now.
12:54am • #2

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Peyman Karami

North Hollywood, CA

More about me…

Broker L.A. Inc.

Address: 11490 Burbank Blvd. 1A, North Hollywood, CA, 91601

Office Phone: (818) 505-9505

Cell Phone: (818) 300-3005

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