I am being sued by my ex real estate broker?
i signed a contract when I first started real estate before I actually had my license in hand (issued by DRE) but my future broker required me to sign a contract for employment as an agent anyway. Now I am no longer working under this broker but a mediation was done with a prior client wanting money for damages 2 yrs later. My ex broker now wants me to pay the errors and omissions deductable because the contract states I will hold the broker harmless. My main question is: is the contract enforcable considering I did not have my license yet.
Just to clarify I never did any transactions prior to receiveing my license, But I did sign the contract prior to being licensed as a term of being reimbursed by my broker for my license fees. I was given a 3 page contract with pre marked paragraphs and had to sign it or I would not get my License money reimbursed and find another broker.
Filed under: Natural Gas Futures
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Interesting question, indeed. If you signed as an agent before you had an agent license, your employer knew that you could not legally perform any duties requiring a license. You were therefore working under his complete supervision and control as an unlicensed clerk. Did he require you to sign an illegal document, as a requirement to training you? If you were unlicensed at the time the alleged error occurred I would offer the defense that you performed no actions without the review and acceptance of your employer while you were in training.
You are not bound by the agreement. You were not licensed when you signed. WOuld you pay the E_O insurance premium just to be done with it. If not, there is nothing the broker can do to you. What a jerk he is being.