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Frequently Asked Questions - Transferring

  1. Do I have to sign a Change Application when an agent asks me to do so even though the agent owes
    my company money?
  2. How long do I have to wait for my broker to sign a Change Application?
  3. May I take my listings when I transfer?
  4. May I tell my listing clients I am moving to another company and give them my new address and
    phone number?
  5. I plan to transfer my license to a new firm. How soon may I begin working for the new firm?
  6. May I still collect my earned commissions if I transfer to a new firm, if I place my license on
    inactive status, or if my license has lapsed?
  7. What happens if my broker and I did not sign a written employment or independent contractor agreement?

Q. Do I have to sign a Change Application when an agent asks me to do so even though the agent owes
my company money?

A. Yes. See Rule 520-1-.07 (5).

Q. How long do I have to wait for my broker to sign a Change Application?

A. You should schedule an appointment to meet personally with your broker or the management personnel authorized to sign such Change Application s and the broker or the broker's designee must sign that Change Application at that meeting. However, you are required to account to the broker for a number of items listed in Rule 520-1-.07 (5). If you do not, the broker may file a written complaint with the Commission regarding your failure to do so and pursue other legal remedies. See Rule 520-1-.07 (5).

Q. May I take my listings when I transfer?

A. Listings belong to the real estate firm. They are not yours. Thus, only your broker can release an owner from a listing and allow you to attempt to list the property for your new firm. See License Law 43-4 (a )( 14) & (26), Rule 520-1-.07 (5).

Q. May I tell my listing clients I am moving to another company and give them my new address and
phone number?

A. The "listing clients" are not yours. They belong to the firm for which you were acting when you listed the property. When you decide to leave the firm, you should discuss with your releasing broker whether you can have any contact with the persons who listed property with the firm through you and follow strictly the releasing broker's desires in that matter. See License Law 43-40-19 & 43-40-25 (a )( 26) and Rule 520-1-.07 (5).

Q. I plan to transfer my license to a new firm. How soon may I begin working for the new firm?

A. You may begin work for the new firm as soon as: (1) your former broker releases you in the Commission's on-line system or signs a Change Application releasing you from his or her firm; and (2) your new broker affiliates your license through the Commission's on-line system or signs your Change Application and faxes or mails the completed Change Application to the Commission. See Rule 520-1-.07 (5).

Q. May I still collect my earned commissions if I transfer to a new firm, if I place my license on
inactive status, or if my license has lapsed?

A. Yes, under the terms provided for in your written employment or independent contractor agreement with your broker. See License Law 43-40-19 and Rule 520-1-.07 (5).

Q. What happens if my broker and I did not sign a written employment or independent contractor agreement?

A. See License Law 43-40-30.1 and Rule 520-1-.07.