Delaware License LawIntermediateDelaware Exam
What is a 'non-solicitation' agreement and how does it apply to Delaware real estate teams?
AAn agreement prohibiting agents from soliciting FSBO properties
BAn agreement restricting a team member or agent from soliciting the brokerage's clients if they leave the team or brokerageCorrect
CA Delaware law prohibiting all real estate telemarketing
DSimply a formal agreement between two competing brokerages not to compete within the same geographic market area, in general
Why An agreement restricting a team member or agent from soliciting the brokerage's clients if they leave the team or brokerage Is Correct
Answer B: An agreement restricting a team member or agent from soliciting the brokerage's clients if they leave the team or brokerage
Non-solicitation agreements restrict departing agents from soliciting the brokerage's clients for a defined period and geographic area. Delaware courts will enforce reasonable non-solicitation provisions.
Key Delaware 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.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
Comparable Sales (Comps)Recently sold properties similar in size, condition, and location used by appraisers and agents to estimate a property's market value.
State-Specific Concepts
License Law
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