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Updated over 6 years ago on . Most recent reply

Account Closed
  • Rental Property Investor
  • OAKLAND, CA
5
Votes |
21
Posts

Controlling interest in RE Brokerage without have a license

Account Closed
  • Rental Property Investor
  • OAKLAND, CA
Posted

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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John Thedford#5 Wholesaling Contributor
  • Real Estate Broker
  • Naples, FL
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John Thedford#5 Wholesaling Contributor
  • Real Estate Broker
  • Naples, FL
Replied
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. 

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