Switching RE Brokerages: Who Owns the Leads?

[JC7]

Hey guys,

Been with my current broker for the past 2 years and am thinking about making a move.. My current broker is pretty generous when sending prospects my way. Many of these end up turn into nothing but I certainly don't want to relinquish these names, emails and phone numbers.

Am I obligated to turn them all back over to him or are they mine since they were given to me? How about the buyers I'm currently working with?

I believe listings are really up to the seller, someone please correct me if I'm wrong. Anything else I should watch for or be careful of? Much appreciated for all the info, gentlemen.

 

[Josh]

Legally, you may or may not be obligated to give back the leads.

As a matter of ethics, you're a piece of s**t if you take someone's leads, leave, and then use the leads to make someone else money.

 

[Fastest H-Town L&H Agent]

The broker owns the leads, listings and any buyer you have contracted. You are simply doing business in his name, acting as.

 

[Indiana_Adam]

It actually depends on what your contract with the broker states. I'm sure it states what Fastest is saying. Any leads obtained while with the broker are his property and stay with him. You act on behalf of the Broker and nothing is yours. That being said, talk to him. He may work at a nice deal with you, or he may tell you ain't getting squat and good luck. If you still try to work those leads after leaving, the broker could take civil action against you and get you into some hot water with your states Real Estate Commission..not worth getting sued over or losing your RE license.

Medicare, that's a little harsh. Selfish and unethical on his part for sure. Now, if he leaves without asking about the leads/listings, then yeah, I'm whole heartedly with you. POS.

 

[Josh]

if he leaves without asking about the leads/listings, then yeah, I'm whole heartedly with you. POS.

Exactly

 

[Frank Stastny]

Hey guys,

Been with my current broker for the past 2 years and am thinking about making a move.. My current broker is pretty generous when sending prospects my way. Many of these end up turn into nothing but I certainly don't want to relinquish these names, emails and phone numbers.

Am I obligated to turn them all back over to him or are they mine since they were given to me? How about the buyers I'm currently working with?

I believe listings are really up to the seller, someone please correct me if I'm wrong. Anything else I should watch for or be careful of? Much appreciated for all the info, gentlemen.

Does he have a list of all of your clients?

If so, that may answer your question.