if a Real Estate licensee terminates employment with a Broker and associates with another Broker. What transactions stay with the terminated broker
Answered on: 7/16/13, 1:12 pm by Rick Williams
All client and customer relations of an agent are through his/her broker. In other words, there is no direct contract for services between the licensee and the consumer. The relationship exists between the consumer and the office. Hence, an agent may not take ANY client or customer acquired during the time working under a particular broker who still has a pending deal in the works. Those clients' and customers' transactions are the broker's. Now, if an existing client chooses to enter another transaction (for which the agent - while under that broker - was not the procuring cause), he may utilize the services of the agent under a new broker.
Really, what it comes down to is that the transaction, whether in representing a buyer or seller, belongs to the broker of the office that initiated the transaction, not to the agent who provided services as a representative of that office.
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Law Offices of Frederick D. (Rick) Williams, Chtd. 5515 Wedekind Rd Sparks, NV 89431-1147► Other answers from this attorney