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Rainmaker
681,694
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

Creation. Of what? By whom?
Do you mean fabrication? No matter.
In our industry, with rare exception, the brokerage is the one licensed and recognized by the state to conduct real estate business. Licensed salespeople are a contracted extension of the brokerage. Clients are clients of the brokerage. The brokerage is procuring cause.

Mar 31, 2018 05:22 AM
Rainmaker
2,980,261
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

What Ken Jones, ASA, SCGREA, CRES said. Could not have said it better myself. If you want to "own" your listings and agency agreements start your own brokerage.

Mar 31, 2018 04:20 AM
Ambassador
3,191,338
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

In our states (NC & SC), the agents hang their licenses with the brokers who absorb the responsibility of each and every transaction by each and every agent. Per the Contracts here, the listing is with the brokerage as are the buyers agency agreements.

Mar 30, 2018 10:00 PM
Ambassador
3,076,835
Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Bristow, VA

Agents like to think we hung the moon and stars, but the brokerages where we hang our licenses own those listings all day long.  We are mere representatives of the brokerage and need to remember that.

If you don't like that structure, get your broker's license and open up your own shop.  You'll never have to worry about it.

Mar 31, 2018 10:04 AM
Rainmaker
1,026,242
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Time to read your independent contract. 

Mar 31, 2018 06:38 AM
Rainmaker
3,245,149
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Check your listing agrewment. I imagine the brokers name is included. 

 

 

Mar 30, 2018 09:39 PM
Ambassador
3,981,962
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

It is clear that you have not read your license law and that the broker of record with the state is the one holding the bag and the liability including keeping the herd of agents in compliance and under supervision.

Mar 31, 2018 01:49 PM
Rainmaker
724,785
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

Someone needs to have legal responsibility and it is the broker of record. It is NOT a "creation", it's accountability.

Mar 31, 2018 09:54 AM
Rainmaker
1,212,279
Ryan Huggins - Thousand Oaks, CA
www.HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Ken Jones, ASA, SCGREA, CRES said it beautifully.

In California an agent is just that, an agent of the Broker.  Kind of like how an FBI Agent is an agent of the FBI and not the FBI themselves.  The Broker is the only one able to actually take a listing and as an agent you sign an employment agreement with the Broker to work on his or her behalf.

 

Don't like it?  Either leave the industry or get your Broker's license!

Mar 31, 2018 09:38 AM
Rainmaker
4,873,871
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

you must be kidding....

you work under the broker's license.... your negligent act are binding on the broker.... and all contracts are owned by the broker, not the agent.... 

Mar 31, 2018 07:37 AM
Rainmaker
1,405,648
Kat Palmiotti
Grand Lux Realty, Monroe NY, 914-419-0270, kat@thehousekat.com - Monroe, NY
The House Kat

Everything belongs to the broker (clients, contracts, listings, etc). If you are working for one broker, and move to another, the first one could keep any listings you have because those listings belong to the broker, not the agent. Many agreements say something like, "This agreement is between Company A, represented by agent A". Agents are just representatives of that company.

Mar 31, 2018 03:57 AM
Rainmaker
526,059
Mike & Eve Alexander
Buyers Broker of Florida - Orlando, FL
Exclusively Representing ONLY Orlando Home Buyers

All agents work FOR the broker...

Contrary to what one may think, that means that the agents is hired to bring in business for the broker.

Eve

Mar 31, 2018 02:43 AM
Ambassador
4,063,361
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Keep in mind that You are only an agent of the Broker, and the broker is the agent of your clients.

They are responsible for both of you.

Mar 31, 2018 09:41 PM
Rainer
4,006
The Roskelly Team
RE/MAX Leading Edge - Gambrills, MD
Buy, Sell or Rent a home with The Roskelly Team

The Broker is responsible for supervision of every agent that works under them.  That's why they get a share of your commission. 

They are the ultimate authority if there is problem and yes, we sometimes (though rarely) get leads from the Broker.  But if there is a problem with that transaction, the Broker is the person ultimately responsible.  The Broker also maintains E&O insurance.  

So it has always been and likely always will be. Procuring cause has no relevance to this.

Mar 31, 2018 10:36 AM
Rainmaker
1,566,510
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co. Notary Services, retired Realtor

The Broker is liable for all the listing agent does and takes GREAT risk in taking an agent under his/her wing. If you ever get a license (and with questions like this I'm not sure I'd want you to have one) you will learn quick why a Broker gets a few perks for taking on a hell of a lot of risk.

Mar 31, 2018 10:13 AM
Rainmaker
3,173,351
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Ken Jones, ASA, SCGREA, CRES summed it up concisely!

Mar 31, 2018 09:52 AM
Ambassador
1,613,844
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

That is in Chapter 3.

Mar 31, 2018 09:05 AM
Rainmaker
2,765,148
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

Great answers here.  I will add that is why agents are covered under the E&O insurance of the broker.  

Mar 31, 2018 09:05 AM
Rainmaker
985,299
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

The broker is accountable for everything the agents or broker-associates are responsible.  Don't want to work under someone then become a broker. One can be broke first.

Mar 31, 2018 07:51 AM
Rainmaker
524,014
Peter Testa
Nationwide Homes - Danbury, CT
PETER TESTA

This is just the way it is if you don't negotiate something different upfront. When you join a brokerage you can negotiate what happens to your listings in the event you transfer to another brokerage. If the Broker is unwilling to let you keep your listings you may decide this isn't the right company for you. I would keep mine if I left, but I am not going anywhere, I love where I work!

Mar 31, 2018 07:40 AM
Rainmaker
1,367,327
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

If you are studying for your real estate exam, you need to go back and study harder. If you are an agent, you need to pay attention in your CE class.

The principal broker owns all Agency agreements under their purview. The broker is also responsible for his/her agents activities and actions under the law. It is not really the agent.

Mar 31, 2018 07:27 AM
Rainmaker
912,017
Thomas J. Nelson, Realtor, ePRO, CRS, RCS-D
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

What Ken Jones, ASA, SCGREA, CRES said and of course brokers are always the procuring cause over blue faces, since branding is key.

Mar 31, 2018 06:49 AM
Rainmaker
4,796,551
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Them's the rules, learn to live with it.

Mar 31, 2018 06:30 AM
Rainmaker
999,786
Corinne Guest
Corinne Guest, REALTOR® | Barrington Realty Company - Barrington, IL
Barrington Lifestyles

Who holds the risk, the brokerage. Simple.

Mar 31, 2018 05:44 AM
Rainmaker
1,507,611
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg IL Real Estate

Welcome to real estate 101. The brokerage holds the listings even though every agent says 'its mine'. Get used to it.

Mar 31, 2018 05:39 AM
Rainmaker
1,936,003
Andrew Mooers | 207.532.6573
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

The broker carries responsibility for everything that happens in the agency. When the agent sold the land on the wrong side of the street or claimed there is a septic and well when neither are present, the agent is not in the cross hairs alone. The broker who's name is on the real estate license bears the blame for any and all actions. 

Mar 31, 2018 04:27 AM
Ambassador
2,344,789
Fred Griffin presently on Leave of Absence
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

       Agents cannot "own" anything.   Only Brokers can.  Agents are either sub-contractors or employees of the Broker.

Mar 30, 2018 10:53 PM
Ambassador
3,917,473
Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

The agent "works" for the broker. Listings and contracts are the responsibility of the broker, at least here in CA.

Mar 30, 2018 09:56 PM
Rainmaker
1,034,967
Valeria Mola
SIB REALTY - Sunny Isles Beach, FL
305-607-0709 SIB Realty

Good answers are here. I hope you find the best one. 

Oct 23, 2018 08:21 PM
Rainmaker
1,457,052
Evelina Tsigelnitskaya
SIB Realty - Sunny Isles Beach, FL
www.SIBRealty.org 305-931-6931

Great question and asnwers. Good luck. 

Oct 23, 2018 08:21 PM
Rainmaker
383,297
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

All real estate transactions in our state belong and are okayed by the Broker. Yes, the agent is the procurring cause, but the "deal" is through the brokerage. Ultimately the Broker is responsible for the actions and professional work conducted through the brokerage.

Mar 31, 2018 04:21 PM
Rainmaker
2,707,465
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Many great responses.

Mar 31, 2018 10:49 AM
Rainmaker
4,431,983
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Ken has answered

Mar 31, 2018 10:15 AM
Rainmaker
5,268,795
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

You must follow your state laws and the policies of your broker.

Mar 31, 2018 07:08 AM
Rainmaker
3,049,971
Tony and Suzanne Marriott, Associate Brokers
BVO Luxury Group @ Keller Williams Arizona Realty - Scottsdale, AZ
Serving Scottsdale, Phoenix and Maricopa County AZ

Candice A. Donofrio nailed this one!

Mar 31, 2018 06:13 AM
Rainmaker
744,502
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

Many broker _______ when the _______________ is taken by an ______________ affiilate agent. 

Regarding procuring cause, brokers frequently ______________ and submit to ______________ for remediation.

Mar 31, 2018 06:02 AM
Rainmaker
2,944,016
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

An agent works for the broker. The broker is responsible for the agents. The broker pays the bills. The listings belong to the broker..... NOW you can negotiate your independent agent contract and ask for anything, but then again they dont have to hire you.

Mar 31, 2018 05:55 AM
Rainmaker
2,426,067
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

The Bureau of Real Estate has deemed that the "buck" stops with Brokers

Mar 31, 2018 05:36 AM
Ambassador
4,298,246
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

The salespersons need to work under the umbrella of the brokers.

Mar 31, 2018 10:40 PM
Rainmaker
1,478,401
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Calabasas CA

Yes technically, but I'd also suggest to read your contracts, it is clear explanation there of the roles of the agent and a broker. 

Mar 31, 2018 10:39 PM
Rainmaker
1,818,056
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

It is State specific 

Mar 31, 2018 05:53 AM
Rainmaker
4,023,952
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

The brokerage always owns the deals! 

Apr 03, 2018 08:16 AM
Rainmaker
2,901,848
Richard Weeks
Dallas, TX
REALTOR®, Broker

You need to take a course or read up on the law of agency, and then you will know the answer.

Apr 02, 2018 05:23 AM
Rainmaker
762,573
Kasey & John Boles
Jon Gosche Real Estate, LLC - BoiseMeridianRealEstate.com - Boise, ID
Boise & Meridian, ID Ada/Canyon/Gem/Boise Counties

This isn't a creation or fabrication. This is the law. It is a matter of truly understanding how a broker and representation works. Others have given good explanations. We call ourselves agents of our clients but technically agents are agents of their Brokers working on their Brokers behalf. That's the way it is. The other option is to be a broker yourself and open your own independent company. -K

Apr 01, 2018 06:49 AM