What is an appropriate action for a broker who has lost their managing broker due to death?

Associating with a new managing broker is the appropriate action if a broker has lost their managing broker due to death. In Indiana real estate practices, every broker is required to work under the supervision of a managing broker. This means that without a managing broker, the broker cannot legally conduct business.

By associating with a new managing broker, the broker ensures compliance with state regulations and maintains the ability to operate and serve clients effectively. This approach allows the broker to continue providing real estate services without interruption.

Ceasing all business operations would not be a viable option, as it halts the broker's ability to engage in real estate activities. Continuing business until the end of the year disregards the legal requirements set forth by the Indiana Real Estate Commission, which mandates brokers to work under a managing broker at all times. Filing a report with the commission, while potentially necessary for record-keeping or due diligence, does not replace the need for having a managing broker in place to conduct business activities.