July 31st, 2008:
What happens when an agent quits, dies or moves away?
Take the example of an imaginary agent name Anna Delong of PDQ Realty. Anna’s client Oscar Funk wants to sell his house. So Oscar approaches Anna. Oscar signs a 90 day exclusive listing to sell his home. A week later, Anna decides to chuck it all. She moves to Canada and puts her license on inactive status.
What happens to Oscar’s listing? Does it just become an open listing because the agent is gone? Is the listing voidable on the grounds of abandonment? Does the listing remain in effect? Or, is the listing automatically terminated because Anna quit?
A listing agreement is between a broker and a seller, not between an agent and seller. Therefore, Oscar listed his property with PDQ Realty and not with Anna. The listing remains in effect and unchanged. The broker at PDQ should assign an agent or meet with Oscar to select the best agent for the job.
