Broker did not renew his license

**nativecrafts** · 12-29-2009, 08:12 AM

I just found out my broker did not renew his license for 2010 and is out of business. As a licensee, how long do I have to get another broker to sponsor me? What is my status until then? I am in Louisiana. Thanks.

**CharlotteRealEstate** · 01-12-2010, 04:30 PM

Bad news, good luck to you!

**bangkokofficespace** · 01-12-2010, 07:47 PM

I think, if you get a hard time finding another broker for you,the possible way is to wait for your broker to renew his license. But I think,there are a lot of good brokers for your desired property.

**Jim Erickson** · 01-13-2010, 06:53 AM

Check with the Louisiana state real estate commerce dept. If that were to happen to an agent in Minnesota, all agents for that broker have a 45 day grace period allowing them to sign on with another broker.

**RE_Investor** · 01-19-2010, 10:32 PM

The same thing happened to me in Michigan. Worst case, the license goes back to the state, and I believe I had to pay a $10 fee to transfer it to another Broker.

I know the laws vary by state, so don't hold me to that.

**icondosmanila** · 01-26-2010, 01:22 AM

If you're broker is good and you have a good relationship with him/her and you can't let her/him go,it's better to wait to renew his license than to find another broker but finding another broker is not really hard, the best way is to consult a real estate firm and of course when you get another broker make sure to checked his/her status and for addition his/her background.