Home Selling in New York>Question Details

Jane, Home Seller in New York, NY

My sales agent is a broker in a large real estate agency. She changed to another agency and says she can bring her contract with her. Can she?

Asked by Jane, New York, NY Tue Oct 12, 2010

She wants me to sign with the new agency, when I still have a contract with the first company.

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15
This happened to us recently, We were able to work with the agent after relocation to her new agency but the Broker's commission split went to the original brokerage.
It went smoothly.
Very professional realtors.
1 vote Thank Flag Link Tue Oct 12, 2010
Yes, if the original exclusive contract has a provision that allows for this type of transfer. If not the old brokerage may still hold the right to the listing. Its probably best to have an attorney look at the language and determine your options before signing another contract.
0 votes Thank Flag Link Fri Jan 21, 2011
Yes, she can but only if the original brokerage has signed off on the paperwork allowing her to transfer her listings/sales to the new company. If you like the agent and she has done a good job for you so far, then I would advise that you transfer along with her. If you feel that you don't like her, then you don't have to transfer and the original brokerage will assign a new agent to help you. In most situations in real estate transactions, it is the skill of the agent that counts and not the brokerage.
0 votes Thank Flag Link Thu Nov 25, 2010
You contracted with the agency not the agent. The agency may allow you to move it, but you want to know two things...is the new agency better than the old one, and why did she leave. (now what she said but the real reason)...if she left to go on her own or to a 'rent a desk' agency you may not get the support you need. Meet with the agent they want to assign you to, or look over the agencys roster and pick someone to meet. You have nothng to lose

Good solid producing agents rarely change companies, if they do it is to move up to one of the major full service firms.
0 votes Thank Flag Link Thu Nov 25, 2010
Jane, you may like your agent, but obtaining a contract release from the current brokerage is a chore. If the current contract has only a few weeks until expiration, let it expire. If it has months yet to transpire, remind the agent that he or she could certainly co-broke on your property. If you are determined to change brokerages, have your attorney oversee the release agreement. Remember, it was the agent who changed the circumstances, not you.

Best of luck,

Dennis
0 votes Thank Flag Link Thu Oct 14, 2010
Hi Jane. Your info refers to New York, NY. If this is a listing in Manhattan, it is under the guidlines of the Real Estate board of New York. They are a bit different than the MLS outside of Manhattan but many concepts are similar. As a pont of clarification, there is an MLS in Manhattan but the larger companies (Prudential, Corcoran) are not members of this association.

Fisrt, I will also refute Mr. Callaghan as the listing belongs to the brokerage office and NOT the listing agent. The listing agent is a sub-agent of their principal broker. It is the Broker who has the listing. End of story.

Moving on, it is possible that the Principal Broker would relinquish the listing. This makes it easy for you to re-sign with this Broker if you so choose, or you can seek out another to represent your property. You would need an unconditional withdrawal from the current brokerage in order to re-sign. My thought is, even if there is some level of shenanigans and you wind up being listed by two agencies, the brunt of any problems would be on this broker as you did what you did in good faith.

If you want extra clarification, call the office manager and speak to them directly about this situation. Good luck.
0 votes Thank Flag Link Wed Oct 13, 2010
As long as you have an unconditional release from the from the contract with the initial Broker than you can sign on with anyone you choose. Otherwise, you are still under contract with the other firm. Of course, regarding contract law it is always best to consult with an attorney.
0 votes Thank Flag Link Tue Oct 12, 2010
Hi Jane,
Although all the answers are correct below.... it is your Sales Agent, whether a broker or sales agent who needs to have an arrangement with his brokerage company/office/manager, in other words when the Realtor while working and having a contract him or herself with that brokerage company no. 1 leaves that brokerage to go to another brokerage, as correctly stated the listings belong to the brokerage office not the agent, there needs to be a clear arrangement between your agent and his/her original brokerage whether that 1st brokerage will release the listings, cancel them in the multiple listing service, so that you can then re-list with your Realtor's new brokerage office....

I have done so many times, sometimes the Manager of the brokerage will release the listings without conditions, and sometimes with some conditions, which do not influence you, once your Realtor has cut his or her ties with the first office and your listing has been released, then you can stay with your trusted Realtor, and need to then sign a new listing agreement with your Realtor and his/her new brokerage office....

I want to assume that because she told you that she can bring her contract with her, she has come to an agreement with the first office.... But you need to double check that your listing agreement with the first brokerage is canceled in the listing service and has been released, before signing a new one. You may have to cancel the initial listing agreement... so double check and make sure....

Edith YourChicagoConnection & Realtor4Life!
0 votes Thank Flag Link Tue Oct 12, 2010
Jane

A couple of points:
1. The listing belongs to the Listing Broker
2. Some brokers will give their sellers an "undonditional release" which allow the seller to hire a new agent immediately and not owe the previous broker a fee.
3. Other brokers may give a "conditional release" where the property has been withdrawn from the Multiple Listings, but a fee would be owed to the original broker if you were to sell before the end of the original contract.
4. And some brokers will wish to continue marketing your home to find you the best price possible.


Best advice is to speak directly with your listing broker to understand your options.

Good Luck,

David Callaghan
Keller Williams Realty
Davis@ForSaleByDave.com
0 votes Thank Flag Link Tue Oct 12, 2010
Hi Jane, the listings are with the broker, not the agent. For an agent to be able to "take' the listing with her, she will need the blessing of the current broker. Most - including mine, will not allow it, but some will. Just be sure there is a shared understanding so there is no confusion that may trip you up and cause any possible commission implication.

Best,
Jeanne Feenick
Unwavering Commitment to Service
Web Reference: http://www.feenick.com
0 votes Thank Flag Link Tue Oct 12, 2010
The listing is with the real estate company, not with the agent. When an agent leaves to go to another company all listings stay with the RE company and the broker. But, as others have said speak to your agent to clarify.

Best of luck to you!
Web Reference: http://www.DesariJabbar.com
0 votes Thank Flag Link Tue Oct 12, 2010
Hi Jane- No-unless you get an unconditional release from the 1st company you are still obligated to them. You can give her the listing after it expires. Usually that is how it works- like Gail said call the Broker she was affiliated with. Terry K 718-614-3167 cell or email me therese.korahais@elliman.com
0 votes Thank Flag Link Tue Oct 12, 2010
Hi Jane

It is possible, but you should speak to her supervisor at the old agency to make sure. In general, the listings stay with the Broker when an agent leaves, unless there is an agreement in place allowing the agent to take the listing with him/her.

Please let me know if you have any other questions.

JOE GREENE
Broker/Owner
WEICHERT, REALTORS - House & Home
(718) 432-5000 (Office)
(917) 974-2600 (Cell)
joegreene@weichert.com
0 votes Thank Flag Link Tue Oct 12, 2010
As to your agent bringing her contract to the new agency of affiliation--much will depend on the agreement she had with her former broker owner--generally the broker owner owns all contracts not necessarily the agent--therefore not a question that be answered with accuracy, since none of us knows that arrangement--if you would like to remain with your current broker, ask to be assigned a new agent, or, if you would like to continue working with your current agent, ask about what kind of arrangement she had with the former broker owner and then go from there.
0 votes Thank Flag Link Tue Oct 12, 2010
Listings are generally considered the property of the broker, not the agent. There are always exceptions.

You might want to check with her old broker to see if they are releasing the contract....do not get caught up in the middle.
Web Reference: http://GailGladstone.com
0 votes Thank Flag Link Tue Oct 12, 2010
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