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

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  • Most of the govt REO accounts are with the brokerage while most outsources REO accounts are with the agent. If the broker of record for the brokerage changes, it is unlikely that the brokerage will lose the account.

    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.

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