I have a few questions that were on my real estate exam that didn't make sense to me.
1. If the agent leaves the brokerage that he works for can his/her listings follow?
2. If the agent list a house under exclusive agent how will the agent handle selling the house since his/her not guaranteed a commission when the house sells by the seller
3. A property manager would need a real estate agent in what circumstance?
4. How can a agent earn a bonus? From his broker? From the other broker for making a sale? One of the question was "The agent worked hard so the broker decided to give him a commission is he/she able to except it?"
5. If the agent has no listing contract, what can the agent do with the client? how can they show the home without a listing contract? Can the agent show the house with notice of the seller?
The listing would stay with the firm or the firm would have to be in agreement to cancel the exclusive and let you take the client with you
1. They can, but they generally don't. The listings belong to the brokerage, but if the broker doesn't mind, then you can take them with you. Check the agreement you signed with the broker
2. If the seller finds the buyer, the agent is not entitled to a commission under exclusive agency. This is why you want an Exclusive Right to Sell
3. This varies by state, but in my state, a PM is a licensed RE agent
4. You can earn selling bonuses, but in my state, they have to disclosed to the buyer. Now, if your broker wants to just give you a random bonus that is not tied to any transaction, they can.
5. The agent can still show the house to his buyers if it's not his listing. If it's for sale buy owner, you would want to get a one time showing agreement in place so you can be compensated by the seller if your buyer decides to purchase.
@Dawn Brenengen So on the exam for question number 5 I should have chosen the answer to give the owner of the home reasonable notice?
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