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Old 03-13-2008, 10:57 AM
 
340 posts, read 796,061 times
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I just found out the broker my agent works for (a RE-MAX franchise) is pulling the plug and my agent is going to another RE-MAX franchise. At the moment, the only problem seems to be I can't access the Centralized Showing Service website. Are there other implications to this? Will it cause the listing to drop off the MLS and other online marketing locations?

The realtor told us that it wouldn't cause any real disruptions beyond taking a few hours to get back up on the Centralized Showing Service, but in this market I hate to be out of the public view or miss any showings for any amount of time.
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Old 03-13-2008, 12:42 PM
 
Location: Houston-ish, TX
1,099 posts, read 2,360,348 times
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Are both of these franchises owned by the same head broker? I thought each of those were independantly owned and operated. I ask because a listing does not technically belong to the agent, they belong to the broker. If your agent is leaving the office, the broker usually keeps the listing and will either take it over themselves or re-assign it to another agent.
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Old 03-13-2008, 02:27 PM
 
Location: Raleigh, NC
263 posts, read 674,815 times
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Default The listing may...

"belong" to the agent, but the seller decides what happens. If you choose to stay with your current agent and the old company is trying to hold onto the listing, all you have to do is sign a termination and resign with the other agency. If the agent has an agreement with her agency that she keeps the lsitings, which some do (my own ReMax franchise is an example) then there is just a little IT work to do. Your listing will not necessarily go off the sites. If it does, it will be only until your agent can get it re-entered and then it will show up as a new listing, which can be very good on some web sites. It may have a "New Listing" banner, for instance. In other words, if you have an agent you like and trust, don't worry!
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Old 03-13-2008, 02:43 PM
 
340 posts, read 796,061 times
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My understanding is that the broker is giving up real estate and the agents (at least mine) are moving to another RE MAX broker. I am please with my agent and don't plan on changing, and that doesn't seem to be a concern. I just didn't want my house off the market for any substantial amount of time, and your responses indicate that shouldn't be an issue. Thanks!
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Old 03-13-2008, 03:19 PM
 
Location: Gilbert - Val Vista Lakes
6,066 posts, read 8,336,247 times
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Quote:
Originally Posted by UofMGrad92 View Post
My understanding is that the broker is giving up real estate and the agents (at least mine) are moving to another RE MAX broker. I am please with my agent and don't plan on changing, and that doesn't seem to be a concern. I just didn't want my house off the market for any substantial amount of time, and your responses indicate that shouldn't be an issue. Thanks!
You can use your mls number to check to see that the listing still shows up. It probably will.

The old broker could ask the new broker to agree to a referral fee, and they may negotiate.

The procedure is for the agent to send a listing transfer form signed by the new broker to the old broker.

The old broker signs the transfer form. The new broker submits this to the local mls company.

The agent transfers his new broker info to the mls .

The listing then comes up very quickly with the new broker company name.

The only hitch could be if the old broker holds out for a commission and if the new broker and agent are not willing to agree to pay the commission. That could slow things up.

My suggestion is just to give it time and keep communicating with your agent to check on the progress. The listing should remain on the mls.
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Old 03-13-2008, 04:18 PM
 
Location: Salem, OR
10,925 posts, read 18,576,045 times
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It is still a new brokerage so you will have to fill out brand new paperwork to list with the new principal broker. The old broker may wait to officially pull listings off the MLS until after all of the transfers have occured in order to make it smoother for sellers.

Yes you will have a short down period, but nothing too bad. Out here, you would have to get a new MLS number as well.
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Old 03-14-2008, 07:23 AM
 
Location: Palm Coast, Fl
2,248 posts, read 5,855,289 times
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Quote:
Originally Posted by House Lady View Post
"belong" to the agent, but the seller decides what happens. If you choose to stay with your current agent and the old company is trying to hold onto the listing, all you have to do is sign a termination and resign with the other agency. If the agent has an agreement with her agency that she keeps the lsitings, which some do (my own ReMax franchise is an example) then there is just a little IT work to do. Your listing will not necessarily go off the sites. If it does, it will be only until your agent can get it re-entered and then it will show up as a new listing, which can be very good on some web sites. It may have a "New Listing" banner, for instance. In other words, if you have an agent you like and trust, don't worry!
And pay a fee if the listing agreement has an early termination clause with a fee attached to it. And that fee can sometimes be a pretty hefty one. I understand that the situation of the op is different because the broker has decided not to continue his business, but if he were to continue, that listing belongs to him, not the sales associate. Sellers sign a contract with the agency not the sales associate. When a sales associate leaves an agency they are in violation of NAR ethics rules if they solicit customers/clients to go with them and remove their listings from the original broker.
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Old 03-14-2008, 11:32 AM
 
340 posts, read 796,061 times
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Just a brief update. My agent told me yesterday that the listing had to be withdrawn per policy/rules/regulations of some such stuff. It was resubmitted to the MLS by the new broker as soon as it was withdrawn, but obviously there would have been a brief break in the listing.

It appears the house is back on all the online listing sites it was on before. I assume it is back on the MLS (it is still on the REALTOR site), and all that seems to be lacking now is access to the Centralized Showing Service site. It took a few days to get access to this when we first listed, so maybe it will be coming soon. This is a bit frustrating because we had a couple of showings over the past few days that we can't access for feedback. Of course the only feedback that I really want to get is an offer!
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Old 03-15-2008, 10:43 AM
 
Location: Raleigh, NC
263 posts, read 674,815 times
Reputation: 193
Default Sounds like...

it is all well in hand. The various sites pisck up automatically from MLS and usually take a while, so your house was probably on right away. You can still get the feedback from your agent/agency. Good luck!!!
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Old 03-15-2008, 11:10 AM
 
340 posts, read 796,061 times
Reputation: 152
Thanks again everyone. Everything seems to be back in place now (including the Centralized Showing Service). This is my first time selling a house (good timing with the market, no?) so I feel like I'm flying blind sometimes. I'm in good communication with my agent, but the agent was scrambling like mad this week to get set back up with the new broker. I hated to keep calling, and luckily for me this board exists and I could get a little peace of mind here.
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