switch our listing to his new company. Is this typical? He told us that we are his clients, so he can take our listing with him. What is the normal process when an agent switches companies?
As a broker I can tell you that the broker owns all the listings, and if the seller is allowed to leave the company and go with the agent is totally up to the Broker. The advice that TJ gave can cause the agent to get in trouble with the State, and can also put you in harms's way if the broker were to sue the agent. My advice is to talk with the broker, be honest, and voice your concerns. maybe the broker will handle you themselves and you might be able to continue without an interruption in your service. Bottom line is you want to sell your home, and if your current broker can still do it and you have no break in service, that might be okay for you. It might even be possible that the broker will offer you an incentive to stay with their company, you never know. But be honest and upfront with the broker, and that is the best advice.
The broker owns the listing. Not the agent. You can tyically terminate a listing agreement without an issue by delivering written notice to the agency. However, if the broker does not agree to release you from the agency agreement, you may have to seek legal counsel or continue with the company until the listing expires.
Best of luck with your situation.,
HS12 -
Todd is reight on the money. It is up to your agents borker if he can take your listing or not. Depending on the reasons the agent and broker are parting ways may have a lot to do with letting the listing go. And if you try the drop and relist, I would suggestyou read your listing contract very carfully.
He is a very experienced realtor, I just wanted to make sure it was ethical for him to take all his listings "with him". We just don't want to get caught in the middle. I'm sure he would like to take our listing. Is there a way for us to cancel the listing with his old company based on him leaving without signing with his new company?
Homeseller 123456, In Ohio the Exclusive Listing Contract is between the Broker, company, and the Home Owner not the Agent and Home Owner. You will need to check with your agent to see what his agreement is with his Broker. Some companies have a policy they will release the listings to go with the agent to the new company some do not. If your agent switches companies and then contacts you this would be a violation of the Real Estate Code of Ethics.
Todd Orrill e-PRO
He must not want the listing that bad? You withdraw current (there is a form)relist with new.So I dont understand the pause,is he new?.let me know #12
TJ
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