I have a question for everyone....here's the scenario...... Theres a company where the broker wants to retire to "associate".... he has a few larger accounts.......if he steps down to to broker-associate..... does anyone know if he will automatically loose his accounts???
This is a tough call......any idea's???
Thanks for your IMPUTTTT!!
Rose
Replies
If I were you, I'd try to take over the brokerage. Just make sure to update the asset managers of the change and you should have yourself a healthy REO brokerage :)
Hi there---- well, I meant... if the broker steps down from being the broker to a "broker associate"- or just plain realtor ( in some states).... will he lose his reo accounts....?? Will Chase drop him if he is no longer the in-house broker and back to being a realtor.....Thats the burning question........any thoughts?
Thanks!!! Rose
Generally an asset manager assigns listings to an agent and doesn't care if that agent is a sales agent, a broker, or whatever as long as they are licensed to sell.
I would think it depends on your State's license law and how the new broker wants to handle things. But I have never heard of this happening other then the brokerage being aquired by another brokerage.