January is usually when you sign independent contractor agreements with your brokers. There were changes made, and there’s an important part that says you need to be practicing real estate in your geographic area and in your area of competency.

There are two new paragraphs that speak to this. The first one is about your geographic area. You need to list the geographic area or areas where you are allowed to practice in. The second paragraph is about practice area. You need to sign off on what you’re qualified to practice real estate in. Is that residential real estate? Is that commercial real estate? Is that property management? 

Your independent contractor agreement with your broker is now tied to your geographical location and areas of expertise. If there’s a problem that comes up, you can bet that they’ll be asking your broker for that independent contractor agreement, so think about it carefully and read all your paperwork. 

I hope you all have a merry Christmas and a Happy New Year. And if we can ever answer any questions for you, please don’t hesitate to give us a call.

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