Contractor Pack
Not paid by “employer”, I am a contractor. What to do?
I am a realestate agent. Real estate agents are generally considered contract employees, paid by commission, and issued 1099′s instead of w-2′s. The person I work with is always slow to pay me, as they are always waiting for a check to come in.
I am owed some additional money for this month and have not received it. I probably will not receive it until late next week (into 2007).
Has anyone else had an experience like this? I’m fed up with never knowing when I will get paid and am considering packing up and leaving without notice if I don’t get paid by Tuesday of next week.
Any opinions?
In the future, you have every right at the closing to ask the attorney, title company, or whatever entity that is handling the closing, to cut two checks. One to your agency for their share, and one to you for your share. You will need to get your agency’s approval, however that should not be an issue, as you can demand it from them. It will require a little extra work on your part to determine the actual split, but well worth the effort. The agency will still be required to report you share as a 1099.
Now for your current problem. There should not be a delay of greater than 7 days for you to get your commission after a closing. The fact that there is, indicates a cash flow problem for your agency, which is a huge red flag. Remember, should the agency file for bankruptcy protection, you and your due commissions are unsecured debt, which means you will have to wait for months or years to get a small % of the original commission due you. If you like your agency, outside of this patment issue, then propose the split checks at closing to them. If they balk, walk.
GROUTMATCH CONTRACTOR PACK
Contractor Pack
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