I am tired of my current broker trying "to go around me" and applying directly to Fannie Mae. I have an asset management company who has requested the broker/owner sign and review the master listing agreement. Everytime I give the master listing agreement to my managing broker, they send it directly to Fannie Mae and from my perspective they are trying to keep me out of the loop but I have the contacts. I have built my contacts up from the past nine years and I am not going to had them over.

Any thoughts on creating your own LLC/office and being your own managing broker to protect contacts and continue to build your business?

Do it.

I was on my own prior to getting into REOs. Then I foolishly moved to a RE/MAX franchise for a year. I got tired of having the broker look into everything I was doing with regard to REOs so I went back on my own.

I'm with ColoBroker. I went on my own a few years ago and have loved every minute of it! I'll never go back to working for someone.

Thanks for the advice. I understand the risks because of the market conditions but I think this is the best time to start a "clean slate" and estabish my business in the new market environment.

I went out on my own a few years ago and would never go back to working for another broker. At least in my area several offices have closed, ones that were perceived as being solid offices financially. Since working for myself, I don’t have to worry about whether the rent is being paid, whether the office will be going out of business leaving me high and dry or having anyone snooping in my files trying to get my contacts. The most important thing is that all my master listing agreements are between me and my clients, not between the broker and my clients. Do it and good luck.

You guys have other agents working for you?

Awesome . . . ever since the clients started requesting signatures by the managing broker this has been an issue. I have lost business as a result of not submitting master listing agreements and later I found out the managing broker had submitted it using the information on the master listing agreement. My managing broker(s) do not understand the process and has made it clear they are trying to capture my contacts.

After all, what is an agent/realtor without contacts?

I did have a broker associate a couple of years ago. None now. My wife will be joining at some point soon though. Then I will cease to be the boss.

LOL

My wife is also majority owner in our little company. That way I can put that my company is minority and woman majority owned. And I agree neighborpro about having to have the managing broker sign everything. Thats one of the reasons I left after one year at RE/MAX. It's easier if you are the broker/owner. I think it also is more impressive to the clients. I think that's how I got my foot in the door a few years ago. Was being broker/owner. Even though I didn't know anything they thought I might.

Thanks for the insight ColoBroker!!

I am a female minority as well. When I first started in real estate I thought being associated with a large brokerage like RE/MAX, etc. was desirable by clients. In my opinion, now, it is all about customer service and market knowledge and you don't need a large brokerage name to provide that.

I had the pleasure of being able to test right into a Broker position due to educational exemption. I talked to a C21 office. They told me of the split. And it did not seem appealing. I represented a few friends a few years later. I took the commission check to the bank. I began to wonder what would be the advantage to working for another broker. No agent could give me a good reason for preferring to work for a broker. And no one who I have spoken with regretted going out on their own. I think its a security thing. After going out on their own, I think many agents realize that the brokers were not giving them as much support as they perceive. But, I have always been on my own. So, I can not give any other perspective. I know that I love being independent.

Thanks reolady123

Yes, when I first started I did like the "security" of the association with my broker's office. In retrospect, I did need some guidance at the beginning, but all of the prospecting I did on my own, the programs my broker recommended to build my business did not work on the other hand my broker did have some good contacts for vendors.

I am a seasoned REO/BPO agent and it appears it is time to cut the strings now that the market has changed and it is the time to build a business for my own goals and objectives.

Do it! I would advise anyone who is a broker to go on their own. I made the transition from REMAX 5 years ago and I love it! You'll be in 'love' too when you get the 'closing' check first! And you will work hard to get more! Good Luck!