Final answer:
Agency agreements usually belong to the broker when a licensee leaves, as clients typically engage with the brokerage firm. Specific terms, state laws, and company policies might alter this general rule.
Step-by-step explanation:
When a licensee leaves a broker, generally, the agency agreements they were a part of are the property of the broker, not the individual agent.
This is because typically, the broker is considered the agent's principal, and clients enter into agreements with the brokerage firm rather than with the individual agent.
However, this can vary based on the terms of the contract between the licensee and the broker, state law, and company policy. It's crucial for licensees to understand the terms of their agreements and any applicable state laws in this regard.
When a licensee leaves a broker, the agency agreements typically belong to the broker. The agency agreements are contracts between the broker and the clients, and they are usually owned by the broker even if a licensee leaves.