Arizona License LawIntermediateArizona Exam
An Arizona salesperson who leaves one brokerage to join another must ensure that all pending transactions are handled according to:
AThe new broker's instructions exclusively, because the new broker assumes full legal and fiduciary responsibility for all transactions upon the transfer date
BThe terms of their existing contracts and the instructions of the previous broker for transactions initiated while at that brokerage, in coordination with the new brokerCorrect
CThe ADRE's mandatory transfer form procedure, which automatically reassigns all pending contracts to the new brokerage upon filing
DTheir own independent professional judgment, since the salesperson is the client's primary representative regardless of brokerage affiliation
Why The terms of their existing contracts and the instructions of the previous broker for transactions initiated while at that brokerage, in coordination with the new broker Is Correct
Answer B: The terms of their existing contracts and the instructions of the previous broker for transactions initiated while at that brokerage, in coordination with the new broker
When a salesperson changes brokers, pending transactions must be handled carefully—following existing contract terms and coordinating with the former broker (who likely holds the listing or buyer agreements) and the new broker to ensure proper continuity and client protection.
Key Arizona License Law Terms in This Question
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Key Terms to Know
Lien
A financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
State-Specific Concepts
DRE Regulation
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