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Clawbacks in a post-Compass world: Are more brokerages bound for court?
For some agents jumping ship, the brokerage claws are coming out. A former Brown Harris Stevens agent is suing the firm over its attempts to clawback more than $400,000 it claims he owes after his departure earlier this year. The lawsuit isn’t the first time a broker has gone to bat with his brokerage following an exit, and it’s a move that could become increasingly common as many firms are grappling with financial challenges after years of high mortgage rates and increased consolidation. Clawbacks became the norm in the industry after Compass came on the scene and began luring agents […]
For some agents jumping ship, the brokerage claws are coming out. A former Brown Harris Stevens agent is suing the firm over its attempts to clawback more than $400,000 it claims he owes after his departure earlier this year. The lawsuit isn’t the first time a broker has gone to bat with his brokerage following an exit, and it’s a move that could become increasingly common as many firms are grappling with financial challenges after years of high mortgage rates and increased consolidation. Clawbacks became the norm in the industry after Compass came on the scene and began luring agents […]
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