Broker-Broker or Broker-Agent Partnership?

[Craig Garrow]

I’m a 32 year old associate real estate broker, and I work for a small broker here in town who is 69, and getting close to retirement. I know that before too long, he is going to at least want to slow down, so I am thinking of offering up some sort of partnership where I could take on more responsibility, get some equity in the business, and eventually buy him out upon his retirement. I’m just looking to see if anyone has done anything similar to this? How did you set it up, and how did it work out?