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When a broker associate changes brokerage firms, which of the following is true?

1) The listings the broker was designated for belong to the broker
2) The listings the broker was designated for belong to the employing broker
3) The employing broker can designate a new broker to service the listing
4) Both 2 and 3 are correct

User Lei
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1 Answer

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Final answer:

The property listings belong to the employing broker, not the broker who managed them, and the employing broker can assign another broker to manage the listings after the original broker leaves the firm.

Step-by-step explanation:

When a broker associate changes brokerage firms, the correct statements are that the listings the broker was designated for belong to the employing broker, and the employing broker can designate a new broker to service the listing. This means that even after the broker leaves, the property listings do not go with them. The brokerage firm retains ownership of the listings and can assign another broker to manage them.

The listings are considered the property of the brokerage firm because that entity holds the listing agreement with the property seller. Therefore, the broker has no claim over those listings after moving to a different brokerage firm, and it is the employing broker's responsibility to ensure the listings are managed.

Both 2 and 3

are correct and reflect standard practice in real estate transactions.

User Jacob Honeyhume
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