Question 82

The listings Bill acquired will remain the property of Bill's current broker.

When Bill changes his affiliation to a different brokerage firm, the listings he acquired while with his current broker will remain the property of his current broker.

A) be cancelled automatically by operation of law.

This option is incorrect because a change in affiliation does not lead to the automatic cancellation of listings. Listings typically remain valid under the ownership of the current brokerage until a formal agreement or arrangement is made regarding their transfer.

B) remain the property of Bill's current broker.

This option is correct as it accurately reflects that the listings are tied to the brokerage firm that holds the agreements with the clients. Unless otherwise stipulated in a contract or agreement, the listings will not transfer to Bill's new brokerage.

C) become the property of Bill's new broker.

This option is incorrect because listings are not automatically transferred to a new broker when an affiliate changes firms. The listings are legally owned by the broker that secured the agreements with the clients.

D) will go to the brokerage firm that each client prefers.

This option is also incorrect, as it implies that clients have the unilateral right to dictate the ownership of the listings upon a broker's change of affiliation. The ownership of listings is governed by the agreements made between the broker and the clients, not client preference.

Conclusion

In summary, the correct answer is that the listings Bill acquired will remain the property of Bill's current broker. This is due to the legal framework that governs real estate listings and affiliations, which dictates that ownership remains with the broker who obtained the agreements, regardless of changes in the agent’s affiliation. All other options misinterpret the legal and contractual obligations surrounding real estate listings.