It is unlawful for a real estate licensee, a relocation firm or a firm with a corporate relocation policy or benefits, or anyone on behalf of any such licensee or firm, to counsel a client of another real estate licensee on how to terminate or amend an existing agency contract. Communicating corporate relocation policy or benefits to a transferring employee shall not be considered a violation of this part, as long as the communication does not involve advice or encouragement on how to terminate or amend an existing agency contract.

Terms Used In Tennessee Code 62-13-604

  • Agency contract: means a valid written contract authorizing a real estate licensee to act as a party's exclusive agent for the purchase, sale or lease of real estate. See Tennessee Code 62-13-601
  • Client: means a party to a transaction with whom the broker has entered into a specific written agency agreement to provide services. See Tennessee Code 62-13-102
  • Contract: A legal written agreement that becomes binding when signed.
  • Real estate: means and includes leaseholds, as well as any other interest or estate in land, whether corporeal, incorporeal, freehold or nonfreehold, and whether the real estate is situated in this state or elsewhere. See Tennessee Code 62-13-102