Final answer:
In general, licensees are not permitted to retain their listings and sales contracts after being terminated by a broker. There may be exceptions if the licensee has a broker's license or was hired as an independent contractor.
Step-by-step explanation:
In general, when a licensee is terminated by a broker, they are not permitted to retain their listings and sales contracts.
These contracts are typically considered property of the broker and will be reassigned to another licensee within the brokerage. However, there may be some exceptions to this rule depending on the specific circumstances and laws in the applicable jurisdiction.
For example, if the licensee has obtained a broker's license, they may be allowed to retain their listings and sales contracts as they would be acting as their own broker. Additionally, in some cases, if the licensee was hired as an independent contractor rather than an employee, they may have more freedom to retain their listings and sales contracts.
It's important to note, however, that these exceptions would not apply universally and would depend on the specific laws and regulations governing real estate licensing in the particular jurisdiction.