Bill, an affiliate broker, plans to change affiliation from his current brokerage firm to a different firm. When the change in affiliation is complete, the listings Bill acquired while

This choice suggests that the listings would be nullified without any action, which is incorrect. Listings do not automatically cancel upon an agent's change of affiliation; rather, they remain in effect until the current broker decides to terminate them or they expire naturally according to their terms.

This option incorrectly implies that the new broker would inherit the listings from Bill's previous affiliation. However, listings are legally owned by the brokerage that created them, and a change of agent does not transfer ownership to a new firm. Therefore, Bill's new broker does not gain rights to these listings.

While clients may have preferences regarding which brokerage to work with, the ownership of the listings is not determined by client preference. The listings remain with the original brokerage regardless of any client wishes unless a formal agreement or transfer is negotiated, which does not happen automatically upon agent change.