Hang your license
Placing your license with a brokerage so you can work under it. Moving to a new brokerage means transferring it, usually online with your state.
Also called: license transfer, switching brokerages, hang license
Related terms
The state license you need to be paid for helping people buy or sell property. You take pre-licensing classes, pass a state exam and work under a broker.
The company agents work under. Commission checks go to the brokerage first, which pays the agent their share after its split and fees.
The agent you name when you join a revenue-share brokerage. Your sponsor can earn revenue share from the company's cut of your deals. You keep your full split.
The broker legally responsible for a brokerage or office. They oversee agents, review files and hold escrow funds. The title varies by state.