After 16 years as a realtor, I finally got to go to Mediation last month. The dispute was over the $5000 first deposit in a deal that fell through. The pig-headed listing agent refused to give it back to my buyer. Six months had passed.
**We were sent a list of 40 names and asked if we had any objections to any of those individuals. An attorney trained as a Mediator was chosen by the realtor association.
Normally, realtors are not involved in the Mediation process. In this case, however, my client asked that I be there because her English is not perfect. The seller then opted to have her realtor present as well.
**Mediation costs $200 to $900--each side pays. The fee was $250 for the buyer and $250 for the seller.
Three weeks later, the attorney introduced us to Mediation with this caveat:
The Mediator would not determine who was right and who was wrong. We thought we were Right and wanted Justice. Justice was not the goal. The goal was to get the two sides to agree to some kind of resolution.
**Each party made their arguments. The mediator pointed out the issues in the contract. We were put in separate rooms. We went back and forth for an hour--finally agreeing to split the $5000. Did we leave Happy? No! Were we relieved to get half the deposit back after 6 months? Absolutely.