Michigan Real Estate Exam Practice Question
A broker who has decided to terminate a relationship with a salesperson is required to do which of the following?
Correct Answer: C
Rationale: When a broker terminates a relationship with a salesperson, they must follow specific legal protocols to ensure compliance and transparency. Submitting a written report to the Department, along with a copy to the salesperson within three days, fulfills this requirement, ensuring that both parties are informed and that regulatory bodies are updated.
Option A is incorrect as providing the salesperson's license to another broker is not mandated upon termination. Option B is misleading; while brokers may negotiate terms for listings, there is no obligatory payment for listings upon termination. Option D lacks the necessary formal reporting to the Department and does not specify the timeline required, making it insufficient.
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