Margo is a licensed affiliate broker who works under Tyler at ABC Realty in Kingsport. She decides to move to Crossville to help care for her mother. Margo has the opportunity to work with a broker in her new town, so she wants to transfer. What must Margo do to transfer her license?

1. Apply for a transfer of license and obtain a release from her current broker, notify the commission, and pay the fee before beginning work for the new broker.

2. Give verbal notice to her current broker and begin working with the new firm.

3. Notify the commission and pay a fee.

4. Transfer to a new firm within one year.