Can I take my buyers with me when I switch brokers?

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10/05/2016 | Author: TAR Legal Staff

I'm changing brokers and I have several buyer clients who've signed buyer-representation agreements. Can I take these buyers with me to my new broker?

No. A buyer-representation agreement is a contract between a buyer and a broker, not a sales agent. As such, your buyers would still be represented by your previous broker. However, your buyers could discuss termination of the buyer-representation agreements with your previous broker. Remember, however, to use caution in these situations to avoid engaging in any practice or taking any action inconsistent with exclusive representation or exclusive brokerage relationship agreements.

Categories: Legal
Tags: buyer representation, buyer's representation agreement, representation agreement, representation, legal, legal faq, buyers


Comments

Mariangel Wilkinson on 10/07/2016

Comment to Judy Doyle. That may be fine for your company, but should not be a blanket statement for all.  With 40 years in real estate, I work as a NON broker for a small local independent co who charges me a small transaction fee. If I were to leave said company, I would expect all of my clients would want to go with me. They would not have signed the buyer rep agreement without me in the deal. I do all my own advertising, etc. These are my clients who went with me because I am me, who I found on my own. And incidentally, about 80% of my business is referral directly to me by former clients, friends, etc. If a brokerage wants to have specific non-compete rules it should be clearly stated in the company’s rules and procedures manual.

Judy Doyle on 10/06/2016

As a Broker, I have spent thousands of dollars to get my company a good solid reputation and well known in the community.  Agents use this good reputation when marketing themselves for listings and sales.  It is only reasonable the listings and sales stay with that broker. 
  Sure the new broker would love to sponge off another brokers’ hard earned clients.
  Time to stand up and stop one more miscarriage of what is right in this world.
  This should be the beginning of a good ending.  Too much bad stuff going on in our world that some call right, which is completely corrupt.


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The material provided here is for informational purposes only and is not intended and should not be considered as legal advice for your particular matter. You should contact your attorney to obtain advice with respect to any particular issue or problem. Applicability of the legal principles discussed in this material may differ substantially in individual situations.

While the Texas Association of REALTORS® has used reasonable efforts in collecting and preparing materials included here, due to the rapidly changing nature of the real estate marketplace and the law, and our reliance on information provided by outside sources, the Texas Association of REALTORS® makes no representation, warranty, or guarantee of the accuracy or reliability of any information provided here or elsewhere on texasrealestate.com. Any legal or other information found here, on texasrealestate.com, or at other sites to which we link, should be verified before it is relied upon.

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