Idaho Real Estate Practice Exam

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What must a licensee do if they leave a firm to work for another?

Inform the new broker immediately
Turn in all property belonging to the broker into your former broker
Transfer all client files to the new firm
Notify the Idaho Real Estate Commission

The correct answer is: Turn in all property belonging to the broker into your former broker

When a licensee leaves a firm to work for another, it is crucial for them to turn in all property belonging to the previous broker. This includes any listings, marketing materials, client files, and other physical or intellectual property that may belong to the former firm. This action is important to ensure compliance with ethical standards and the agreement that governs the relationship between the broker and their agents. It also protects the interests of the previous firm and maintains the integrity of the real estate profession. Turning in property is necessary not just for ethical reasons, but also to uphold any contractual obligations outlined in the agency agreements. By doing so, the licensee helps in facilitating a smooth transition of clients and properties, while respecting the ownership rights of the former broker. The other options carry responsibilities, but they do not encompass the fundamental requirement for a licensee when changing firms. Therefore, turning in all property to the former broker stands out as the essential action to take in this scenario.