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Irina, Other/Just Looking in Miami, FL

How does the process of leaving one brokerage company for another work?Can a broker prevent it?

Asked by Irina, Miami, FL Tue May 29, 2012

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21
You are FREE to move your lic from one broker to the next without any hassle.

Much Success to You!!!

Kawain Payne, Realtor
1 vote Thank Flag Link Wed Oct 30, 2013
An agent can change broker any time. I doubt that a broker can force an agent to stay, yet they can offer better terms and the agent would reconsider leaving. Important thing to remember: your listings usually stay with an original broker. Dah! Real estate contract law 101 … Your broker owns the listings not you( try to negotiate anyway, you can get some, I did).
Plan ahead, think about pros and cons.
Good luck!
1 vote Thank Flag Link Fri Jan 4, 2013
thank you! I dont have any listings, but pending closing (buyer agent)... do you where will commission check go?|
Flag Fri Jan 4, 2013
Be very, very careful.
If you have elected to use all the resources of your brokerage it is very likely all your contacts reside in the brokers CRM. IF your business cards, websites, info-lines and business phone number point to the brokers office you will be OUT OF BUSINESS THE DAY YOU SWITCH-- if you have not prepared properly.

No, it is not as simple as reviewing your contract with the broker and making the switch. Inquire about the transition assistance provided by the destination broker. You will have about two months of work to prepare for the switch. Don't forget about those signs you will need to replace also.

It is unlikely your current broker will create obstacles to the change. However, the devil is in the details. The broker needs only to fulfill the contract. What happens to your business has not and will not be their concern.

Best of success with the changes coming your way.
1 vote Thank Flag Link Tue May 29, 2012
No, your broker cannot prevent it. Your listings may stay with him or not depending on the agency. Usually you pick another agency and just let the Miami/Dade Board know. Your new
agency should guide you through the process but it is easy.....breezy..........Good luck!
1 vote Thank Flag Link Tue May 29, 2012
Changing brokerages isn't difficult - it's just a matter of paperwork. The harder part is dealing with who retains listings and whether or not the broker will require a referral fee. Those items would be outlined in your independent contractor agreement between you and your broker.

A broker cannot prevent an agent from leaving and why would you want to? If someone isn't happy it doesn't make sense to try to make them stay nor would it be good for office morale. Businesses change over time and what agents need/want changes too.
1 vote Thank Flag Link Tue May 29, 2012
I have recently switched broker and have a deal closing with my previous broker next week. Will I still get paid the commissions that are owed to me seeing I have worked the deal from start to finish or will they try to hold them because I am no longer under there umbrella?
0 votes Thank Flag Link Sun Feb 8, 2015
The broker can not prevent it. The listings belong to the broker though. You may want to finish with one brokerage before starting with another...

Hope this helps,

Irina Karan
Beachfront Realty, Inc.
IrinaKaran@gmail.com
0 votes Thank Flag Link Wed Oct 30, 2013
The actual act of leaving is quite simple. And no, a broker cannot prevent you from leaving. Read your contract and make sure you understand what happens to any deals in escrow when you leave. Your listings belong to the Broker but in most cases the clients will want to stay with you. Most brokerages will work with you to make sure that happens. Be sure you have planned ahead and have everything figured out before you make the switch.
0 votes Thank Flag Link Wed Oct 30, 2013
How does it affect me as a seller? I signed a contract with a brokerage, now my agent tells me I have to delist and sign a new contract, because she's switching agencies. Is that in MY best interest as a seller?
0 votes Thank Flag Link Wed Oct 30, 2013
Yes, you can change your broker at any time. I agree with Ann, in that agents leave due to terms and conditions. Within terms I would include the commission split. There are so many new broker options available that offer 100% commission along with all of the same benefits. Why wouldn't you at least check it out?

If you're in CA, check out Evergreen Realty, HomeSmart Long Beach.

Attend our Mixer
April 18 between 4:30-6

562-431-3739
0 votes Thank Flag Link Tue Apr 9, 2013
Your current listings are indeed the Broker's, therefore if you have any properties listed or pending sale your Broker may not release them.
0 votes Thank Flag Link Sat Jan 12, 2013
Irina,

To me, the only reasons to leave a brokerage would be terms or conditions.

Are the terms bad (commission %, time until you receive commission, fees)?

Or are the conditions bad (office, floor hours, personality factors)?

In either case, before you leave your current broker, you better make sure that the terms and conditions will be better with the new broker!
0 votes Thank Flag Link Fri Jan 11, 2013
Dear Irina,
No your broker cannot "prevent" you from making a business decision such as moving to another brokerage. You should check your contract to make sure you understand what your duties and responsibilities are to the franchise. As a courtesy I would inform the broker after I have made the decision and then it's a simple process of moving your license over to the new offices.
0 votes Thank Flag Link Thu Jan 10, 2013
Hi Irina,

Nice to be able to write to the person with the same name!

You are free to go to any brokerage of your choice, just make sure to do the steps required by DBPR.
Make sure that you resign in writing. Also, review all your original paperwork from when you signed on to work in this company. This is to protect your interests - if you are concerned that your broker won't pay all that's due in your commissions, or if you suspect that he/she will use delaying tactics (in order not to pay the commissions alltogether).

Often, agents stay and work until all commissions are paid - then they move on.
Or, if they can't stay any longer, they forget about commissions and move on...without them.

Hopefully, your broker is a decent guy/gal and things will work out nicely for you.

Hope this helps,

Irina Karan
305-904-2355
Beachfront Realty, Inc.
IrinaKaran@gmail.com
0 votes Thank Flag Link Fri Jan 4, 2013
Thank you!
Flag Mon Jan 7, 2013
While a broker cannot prevent you from leaving they can make it painful to do so if you have pending commissions--if you do, be sure to read your contract carefully so you understand exactly how those commissions will be paid if you have changed brokerages.
0 votes Thank Flag Link Fri Jan 4, 2013
Could anybody advise me on it.. I have pending closing and if i switch my broker, how the commission will be paid?
0 votes Thank Flag Link Thu Jan 3, 2013
Buyers, unless they have signed a buyer's agreement, cannot be forced to stay with any broker (or any agent for that matter). In that respect, the KLT factor (they know, like, and trust you) will dictate who they work with. Seller's listings, however, will definitely need to stay with the broker - especially if there's already a pending contract. If there is no pending contract, again, your broker's contract/policy and the terms in which you leave will dictate how those are handled. But regardless of either way, you are legally entitled to your commission once they close - now, how much split they charge, again, will be dictated by the clauses of the contract you signed.

Now, about what some people are saying regarding your contacts: It's not a bad idea to copy over all of your contacts and documents because you'll want to take those with you, but a broker who "steals" clients is an unethical broker, and if they're willing to do that, you have much bigger problems on your hands.

If all parties are responsible and professional, the transition shouldn't be a problem at all.

Agents are Independent Contractors, and as such, have an incredible amount of freedom - not just who to work for, but even in how many hours to work, or even what to do while working.

Just go to IRS.gov and look up "independent contractor" vs. "statutory employee". If you get informed about your rights, no one will be able to "prevent" or "scare" you into doing anything...

BROKER: "You need to do Floor Time this week, from 9 am to 3:30 PM."
AGENT: "Floor time is required? Really? Well not according to the IRS! Unless you're willing to give me a W-2."

Ah.. don't you love the law? :)

Good luck!

Gloria Rodriguez de los Reyes
Media, Branding & Team Building
Avanti Way Realty
(305) 229-1146 office
(786) 322-9438 cell

http://www.joinavantiway.com
0 votes Thank Flag Link Mon Jun 4, 2012
Forgot to include link (it's under the second section):
http://www.irs.gov/businesses/small/article/0,,id=99921,00.html

Technically, we are defined as "Statutory Non Employee"... :)
Flag Mon Jun 4, 2012
HI Irina,

Your broker can not prevent you leaving to work for another brokerage. It is a simple process. Your broker however is entitled to the clients that you have as technically the clients are thier clients not yours. Unless your broker gives you permission to take the clients, you can not take them without written consent by the existing broker.

The Board can help you if you run into issues.
0 votes Thank Flag Link Mon Jun 4, 2012
No, your broker cannot prevent you from leaving. Your listings do belong to the broker. Your new brokerage will be able to get your paperwork transferred with no difficulty. Good Luck!
0 votes Thank Flag Link Tue May 29, 2012
The listings are legally the brokers and though he has to pay you your commission, by law, your contract will state if there is any kind of penalty for leaving, such as taking 50% from your split (which I have seen happen with 2 specific firms down here in Miami - the agents never read the fine print).

You're best bet is to review any and all clauses in your previous broker-agent agreement and try to leave on good terms. Smart brokers will allow their agents to take active listings and leave an open door for them in case they wish to return at a later date.

With that said, the transition is as easy as filling out some paperwork from the new broker and, if you want to add an extra layer of protection, fill out a co-brokerage agreement between the new and old broker that establishes the final details of how your pending commissions will be paid.

Hope that helps!
G.

Gloria Rodriguez de los Reyes
Media, Branding & Team Building
Avanti Way Realty
(305) 229-1146 office
(786) 322-9438 cell
0 votes Thank Flag Link Tue May 29, 2012
Irina,

I've been in real estate in Florida for 20 years, and I've never heard of this happening. The agent is an independent contractor, and, as such, is free to work for whatever brokerage company they want.

However, that being said, the agent's listings belong to the broker. If your relationship with your broker is a cordial one, you can probably work something out as to which business stays with the broker and which goes with you. Good luck.
0 votes Thank Flag Link Tue May 29, 2012
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