Terminating Brokerage Relationships 2

If the Broker dies or the Principal (Buyer/Seller) dies, the relationship ends immediately. (Note: If the sales associate dies, the relationship continues because the contract is technically with the Broker, not the associate).If the Principal goes bankrupt, the title to the house usually transfers to a court trustee, ending the broker's authority to sell it.Sometimes, it just isn't a good fit. The Broker and the Principal can simply agree to part ways and tear up the contract.Renunciation: The Broker says, "I quit."Revocation: The Principal says, "You're fired."Warning: While either party can end the relationship at any time (you can't force someone to work for you), they might be liable for damages. If a seller fires a broker who has worked hard and spent money on marketing, the seller might still owe the broker for those expenses.