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I have been working with REOs for a few years now and have been trying to get my foot in the door with Fannie & Freddie, but have been told that since other agents in my office work on those accounts, they will not allow another agent on board.  Does anyone have any insight to this?

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No Michael I am not. My company was at one point but we are no longer. Are you the broker for your company?

yes I am the Principal Broker of my company.

If you are going to do REO and commit to it, you need to be the broker.

Getting set up with all the REO accounts is work enough without having to do it all again if you switch brokerages.

Hi Rick,

Many of the REO AMs and platforms are agent loyal not Broker loyal. They will follow the agent not the Broker or company owner.  If it is an REO application in the  Broker's name or Company owners name , well then you can not as an agent sign up for that account and that will be an account that stays with the brokerage if the agent leaves. Freddie, Fannie and HUD are about the only REO accounts that stay with the company owner when the agent or even the Broker for the company leaves. There may be a few others but as I mentioned most go with the agent.  If an agent leaves a Brokerage the procedure is not much more than the yearly updates required with REO accounts to move the account to another Brokerage.


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