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Updated almost 6 years ago, 02/05/2019
Confused about BIC / Provisional Broker Contract
Hi Everyone,
I received my NC Provisional Real Estate License Today in the mail. I have been talking to area Realtors about being a provisional broker with their company soon.
Two different BIC's gave me a NON-Solicitation of Clients form to sign.
Is this normal? … For example: If I find clients (sellers and buyers) and I am working with them for a while, and leave the company, does this mean that I can't do any business with them for 2 years, or is this just my Broker-In-Charges clients? … I'm confused. … I hate to ask them, because they might not tell me the truth. I don't know? .. They do sell a lot of homes and have good feedback in the area. They want to give me a 55% split, starting out, and provide training.
Here's one of the NON-Solicitation of Clients forms below.
It says: .. Sales representative acknowledges and agrees that solely by reason of employment of the broker that the sales representative will come in contact with some or most of the broker's clients and prospective clients.... Consequently, the sales representative covenants and agrees that he / she will not, for a period of two years (2) following any termination, voluntarily or non voluntarily, directly or indirectly, solicit or initiate contact with any client or prospective client of the broker for the purpose of providing, selling, or soliciting to sell, products or services of the type offered by the broker for which the sales representative had responsibility or with respect to which the sales prospective obtained Confidential Information. For the purposed of this agreement “Contact” means interaction between the sales representative and the client or prospective client which takes place to further the business relationship, or making sales to or performing services for the client or prospective client on behalf of the broker. A “Prospective Client” shall mean a person that the broker or its sales representatives has contacted regarding selling or licensing its services or products.
Thanks,
Mike