Posted on January 10, 2009 - by admin
In California do you need a real estate broker license in order to be the CEO of a real estate corporation?
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This question might be a bit confusing so let me break it down into a couple of questions.
This question might be a bit confusing so let me break it down into a couple of questions.
1. I currently run an internet company. Is conducting real estate transactions under this company’s name ok or should I set up a seperate corporation?
2. If the better option is to set up a new corporation, should I set up a completely new entity or should I set up a new DBA?
3. Do you need a brokers license in order to be the CEO of a real estate corporation even if you do not intend to hire any agents?
4. If no, do you even NEED a license to form a real estate corporation?
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January 12, 2009
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You need to check the California state law go here: REAL ESTATE COMMISSION:
Here in New Mexico you don’t need a license to own or open a real estate company via a live office or for the internet but you do need a person with a qualifying broker’s license to qualify the company for the company to start doing real estate transactions in the state. The owner of the company will not be allowed to do any real estate transactions without a license but the corporation will.
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January 13, 2009
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1. In either case the company would need to be licensed. Whether to form another company depends on whether you want the assets of your internet company to be protected from any claims from the real estate portion of your business, and vice versa.
2. See #1.
3. Your company needs a licensed broker. So in order for the company to get a corporate real estate license there needs to be a natural person holding a brokers license who is an officer of your corporation. Doesn’t need to be the CEO, but there needs to be someone. I don’t think you’ll have much luck finding a shill broker who is willing to sign up for you but then not be involved in the business, since their license would be on the line if you screw up
4. See #3.