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My broker won't sign off on my broker license.
I've finally hit the required 3,500 points required for the NYS Broker License and I was planning on filing as a corporate broker. I originally started working with my current brokerage specifically because the broker said she was more than willing to sponsor me later to get my own corporate license once I had the qualifications. She's relatively hands off, pretty much doing the bare minimum to make sure her agents aren't doing anything illegal that will come back to bite her, but that's it. That was fine by me, but I'm uninterested in making her money any longer than I have to.
Now that it's time for her to approve Supplement A of the Broker Application she's unwilling to sign it, and won't present evidence to the state if and when they would ask for it. I am completely shook and uncertain of what to do! It would crush me to start over at another brokerage, but I really don't know how I can make her sign it. I have some points on Supplement B, but not nearly enough to qualify as all my effort was on closing high-value deals that fall under A. Even if I get her to sign, I really doubt she has kept records of my specific transactions, and my gut tells me she would lie if the state called her up and asked her.
Any advice or alternative routes I can do to move forward without having to start from 0 somewhere else is extremely appreciated.
- Rental Property Investor
- Hanover Twp, PA
- 3,019
- Votes |
- 2,852
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@Account Closed, just let her know that the state will be coming in to do an audit of her files to get that information if she isn't able to sign that.
If she still won't sign it contact the state. I suspect they have a procedure to deal with this and it may actually involve having their inspector just go to the office to inspect files and determine that info themselves.
Something doesn't add up.
You either meet the qualifications or you do not.
The points is only one of the requirements. Experience is the one really your broker needs to attest to. Have you met the minimum experience requirements?
@Russell Brazil I do meet the qualifications, both as far as education and as far as points. I've been keeping a strict record of transactions and deals over time, which is how I knew when I met the 3500 point qualification. In order to apply for my license, I'm required to have my broker fill out form A2 affirming that I indeed have earned the amount of points I've claimed. She is unwilling to sign the document, not because she disagrees with what I've put on the form, but because she flat out refuses to sign. She hasn't given any specific reason, just claiming that she won't sign-off, even though I've explained very clearly this is not to be an associate broker at her brokerage, but to affirm my experience for my own license.
The form states: "All claimed transactions are subject to verification. In order to claim experience points, both the broker and salesperson applicant must be able to provide documentation which clearly demonstrates the active participation of the applicant in each transaction." I'm uncertain what to do in the circumstances since while I have documentation which indicates participation in every transaction I'm claiming going back years, I seriously doubt she has such documentation or if she does have records, would be willing to provide it to the state when they ask.
I suspect she doesn't want the competition, or wants me to keep working under her. Essentially every deal that's been closed has been with 0 support, so she's made $100,000+ from just originally signing off on my salesperson's license. I'll probably take the other person's advice and go directly to the state.
Hello @Account Closed,
This is unfortunate but although it is a shock to you, the Dept. of State has probably seen this happen many times.
Agreed with @Kevin Sobilo, go to the state.
If there are potential consequences that will prevent her from making $ off of the other agents/assoc. brokers, she'll sign.
All the best!
Abel
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Real Estate Agent NY (#10401295960)
Hey @Account Closed - congrats on 3500 points!
I am a newly minted broker myself (Q1 2024) and can shed some light. As others have mentioned, it's good to notify your broker that the state will be requesting an audit of all your "points" if she doesn't agree to sign.
If I'm in your shoes, this is also an excellent time to document and track each and every transaction + its associated MLS ID. I did this and presented it to all of my past brokers who realized I wasn't messing around.
Idk why a broker would act like that. We're in real estate and will cross paths again eventually, doesn't seem to make any sense to burn a bridge.
FYI - you can call the DOS division of licensing. They don't pickup right away but the best time to contact them is between 9-11 AM. You'll still be on hold, they move extremely slow.
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Broker New York (#10401359681)
- 929-349-8042
- http://www.ClosedByMo.com
- [email protected]