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patel23, Real Estate Pro in Dallas, TX

I am changing broker. How to end relation with existing sponsoring broker? Is email is enough? OR a written notice in person in necessary?

Asked by patel23, Dallas, TX Thu Oct 18, 2012

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14
Read the agreement that you sign with the broker first to see if is any charge for early termination and try to do it in person. You may be able to result the problem talking to the broker and may be renegotiate the commission that you are paying.

Best of Luck,

Maria Cipollone

Century 21 Tenace

http://www.Flahomespecialist.com
1 vote Thank Flag Link Tue Oct 23, 2012
I would do it in person because that's just a good business practice to follow. I don't know what your state law is as it relates to notifying the change to the licensing authorities but if it's to be in writing then bring along whatever your broker may need to sign. View your conversation as an opportunity to tie up all loose ends and ill wlill that might exist. End on good terms.
0 votes Thank Flag Link Sun Oct 21, 2012
Even with you ending a Agency relationship you may still owe the Broker a commission.

I would talk with a Real Estate Attorney.

Kenny
TURTLE CREEK REALTY
0 votes Thank Flag Link Sun Oct 21, 2012
I would be very careful here. Do you have a written contract with your current broker? I say be careful because some brokers don't like their agents leaving, and if you don't have a written contract or deal with them, they will show you how much they don't like it.

I've heard some take more commission than agreed on, keeping YOUR hard earned listings, etc. I even heard of one angry broker make up bogus charges to give you that one last ZING as you leave.

Just be careful, stay professional, and good luck to you!
0 votes Thank Flag Link Sat Oct 20, 2012
Patel,

Depending on the reason, you may want to do it in person. If it is a reason that might be able to be resolved, this gives the broker the opportunity to correct the issues (lower split, lower fees, etc). If it is a reason that cannot be resolved, anything in writing should be sufficient.

If you are looking for another broker, I would love to discuss Keller Williams with you. The culture, the atmosphere, and the training are the major reasons that I signed on with Keller Williams and will be staying with them. It is a great place to work.

I'd love to treat you to a cup of coffee to discuss it. Feel free to give me a call.

Brian Rayl
B&B Realty Group
Keller Williams Elite
214-601-4192
0 votes Thank Flag Link Sat Oct 20, 2012
Written or email is fine proof. However, if you are in a Buyer's Agency Agreement you should try to get out of the contract legally. First, approach the agent - if they are unwilling to let you out of the agreement, contact the Broker (who is most likely their manager).

Always site the reason that you are breaking the agreement - if it is bad customer service, that's valid - just make sure you have a release before you sign on with another realtor!

Good Luck!
0 votes Thank Flag Link Fri Oct 19, 2012
Hello Patel,

I would give the broker written notice in person.

An email just seems a bit cold.

You never know, you may find yourself doing business with your old broker. No need to leave on bad terms, make it short and sweet!

Much Success to you!!!

Kawain PAyne, Realtor
0 votes Thank Flag Link Fri Oct 19, 2012
Either one should work, though I would do that in writing and have receipt acknowledged. This is if there is no dispute about your outstanding commissions. If you have some unresolved issues, a meeting and a friendly discussion would be a good idea. It is important to keep good relations with your previous broker when you leave - it is a small World and you never know when your paths may cross again. Also, I would check local state regulations to see if there are any specific requirements on changing a sponsoring broker...
0 votes Thank Flag Link Fri Oct 19, 2012
I'd definitely give them the courtesy of meeting with them in person and would follow-up with an email confirming your intent to go elsewhere.
0 votes Thank Flag Link Fri Oct 19, 2012
I have moved from one brokerage to another and the thing I did was hand delivered my termination of independent contractor agreement with that company and I also e-mailed it so that I had a record of delivery. After that comes the tough task of changing your business cards and other marketing material.
0 votes Thank Flag Link Fri Oct 19, 2012
Pete,
BEFORE you give you current a clue you are thinking of bailing out, you need to move your critical assets. For instance:
1. Be prepared to have a phone number that you own appear on your listing and advertising. If you are using the brokers front desk staff to take consumer calls you may find yourself 'out of business' for a few months.
1b. don't forget those 800 numbers.
1c. Don't forget those pre-recorded message lines that may be critical lead generators.
1d. Don't forget other borer payed or subsidized services. You may find yourself 'unplugged.'

2. Your clients and contacts may be kept in the CRM provided by the broker. When you indicate you are going, the broker will very likely cut off your access to the database AND distribute your contacts and leads among the remaining agents. They like to do this task while you are standing their to observe.

3. Have the paperwork completed to transfer your listings and buyer to a new broker, if that provision is in the agreement.

4. Make sure you are aware of any 'fees' the broker will attempt to spring on you. At some point you will find it beneficial to consult with someone you trust, perhaps an agent who bailed earlier or your destination broker, to give you a 'heads up' regarding what to expect from your current broker.

When you are certain that your assets are protected, then go in person to terminate the relationship. You want this to end as favorably as possible. Brokers of integrity understand from time to time agents move on. However, most brokers would appreciate the opportunity to address the issues you feel compel you to change your affiliation. Too often agents move for no valid reason and find themselves with exactly the same issue they thought they were leaving behind.
0 votes Thank Flag Link Fri Oct 19, 2012
As this is the person who started you in real estate I think you owe it to them to either call them or speak to them in person. No sense in burning any bridges and you're likely to do transactions with this office in the future so you want to maintain a good relationship. I also think you should tell your currnet BIC why you're leaving.

Good luck in your new company.
0 votes Thank Flag Link Fri Oct 19, 2012
I'd tell him to his face, then hand him a written cancellation of your agent contract. Email should never be used for this purpose.
0 votes Thank Flag Link Thu Oct 18, 2012
Depends on your relationship. Are you a buyer or seller? Do you have a written buyer's agreement? If you're a seller, what does your agreement say about termination? When does the listing expire? Once you figure out all these things and how to handle it, I think an email should be sufficient unless your agreement stipulates otherwise. If you have no agreement of any sort, you need only stop using him or her, but courtousy would require some form of contact. Best of luck...
0 votes Thank Flag Link Thu Oct 18, 2012
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