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Updated over 6 years ago on . Most recent reply
Controlling interest in RE Brokerage without have a license
I am planning on opening up my own RE brokerage in northern CA. I was wondering if I can have controlling interest of at least 51% in that brokerage without having a broker's license. I would of course be hiring a managing broker. I currently have just a salesperson's license.
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Originally posted by @Maria McCreless:
@Account Closed, this depends on your states laws. In Florida you cannot have any ownership in a brokerage if you are not a licensed broker.
A non-licensee may OWN a brokerage but may not perform brokerage services and the firm must have a broker of record. A sales associate or broker associate may be an investor but NOT an officer, director, or partner. This is FL statute only and probably does not apply in the OP's case.