Article 17 of the Code of Ethics:

“In the event of contractual disputes or specific non-contractual disputes defined in Standard of Practice 17-4 between REALTORS® (principals) associated with different firms, arising out of their relationship as REALTORS®, the REALTORS® shall submit the dispute to arbitration in accordance with the regulations of their Board or Boards rather than litigate the matter.

In the event clients of REALTORS® wish to arbitrate contractual disputes arising out of real estate transactions, REALTORS® shall arbitrate those disputes in accordance with the regulations of their Board, provided the clients agree to be bound by the decision.

The obligation to participate in arbitration contemplated by this Article includes the obligation of REALTORS® (principals) to cause their firms to arbitrate and be bound by any award.”

The REALTOR® Association of the Fox Valley, Inc. is responsible for providing arbitration procedures for REALTOR® principal members seeking to resolve contractual disputes arising out of real estate transactions. Non-principal REALTORS® may file provided their REALTOR® principal with whom he/she is associated with joins in the arbitration request.

How to File a Request and Agreement to Arbitrate
If after ruling out Mediation as an alternative method for resolving your dispute, you can proceed with the more formal process of filing a Request and Agreement to Arbitration.

You will need to fill out a Request and Agreement to Arbitrate Form and attach a brief summary of your complaint and submit it along with any other documentation that supports your complaint. All Requests for Arbitration must be accompanied with the filing fee in the amount of $275. Once all documentation has been received, your Request for Arbitration will be forwarded to the Grievance Committee for review and determination of whether it is or isn’t an arbitrable matter and should be sent onto the Professional Standards Committee for a hearing.