Which term best describes the practice of a broker contacting former clients to suggest they switch brokers?

The practice of a broker contacting former clients to suggest they switch brokers is best described as an unethical practice because it can undermine the trust that clients have in their current broker. This action may involve misleading information or pressure tactics to convince clients to move their business, which goes against the principles of ethical conduct in the brokerage industry. Ethical guidelines prioritize the fiduciary responsibility brokers have towards their clients, and actively soliciting former clients to switch can damage reputations and relationships built on trust.

While networking and referral solicitation involve reaching out to contacts for business purposes, they are typically more acceptable practices that foster genuine connections and opportunities without the implication of deceit or coercion. Incentive-based marketing usually focuses on providing benefits or rewards for referrals, which is distinct from the aggressive tactic of prompting clients to change brokers.