Broker Washington wants to retire and close her brokerage. She has 5 sponsored sales agents. Under TREC rules, what are Washington's obligations before closing?
Correct Answer
D) Washington must notify TREC and her sponsored agents of the closure, and the agents must find new sponsoring brokers or their licenses will become inactive
Under TREC rules, a broker who is closing a brokerage must notify TREC and inform all sponsored agents. The agents must then find new sponsoring brokers. If they do not secure new sponsorship, their licenses become inactive.
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