Can someone who has a real estate LLC lease and sell properties??

Question

Can someone who has a real estate LLC, lease and sell properties with no real estate license?

Do they not also need a real estate license to be able to lease properties, provide property management, operate a real estate leasing company and to sell property in NC???

Tracy Streich · Answer

@Nona Boyle Above comments are correct. To sum it up you can buy/sell/manage your own stuff in or out of an LLC. To do these things for anyone else you have to have license. The LLC does not circumvent the need for licensure.

Chris Martin · Answer

Per NC General Statutes (NCGS), specifically in Chapter 93A entitled Real Estate License Law, a real estate broker license is required if performing services for compensation for others. The text (emphasis in bold is mine) is as follows:

(a) A real estate broker within the meaning of this Chapter is any person,
partnership, corporation, limited liability company, association, or other business entity
who for a compensation or valuable consideration or promise thereof lists or offers to list,
sells or offers to sell, buys or offers to buy, auctions or offers to auction (specifically not
including a mere crier of sales), or negotiates the purchase or sale or exchange of real estate,
or who leases or offers to lease, or who sells or offers to sell leases of whatever character,
or rents or offers to rent any real estate or the improvement thereon, for others.

The management of an LLC and its business is vested in the managers. That sentence is from NCGS 57D-3-20(a) entitled Management; managers. Per 57D-3-20(d), "...each manager may act on behalf of the LLC in the ordinary course of the LLC's business." When you buy, sell, or lease for the LLC, a person will sign with their title (e.g. manager) under their name to show that they are acting on behalf of the LLC.

Assuming you are a member, manager, (or other term like managing member, member/manager, etc.) for the LLC you ask about, and buying, selling, and/or leasing is part of the "ordinary course of the LLC's business", and you are not being paid by others, then NC does not require a real estate license.

Lisa Whitley · Answer

Regardless of real estate LLC, a person can lease and sell his/her own properties without a real estate license in NC.
In order to provide property management or sales services for others, a real estate license is required in NC.
This is a brief answer, but the NC Real Estate Commission is the best resource for further information on these requirements.

Jiri B. · Answer

You would need to hire a broker in charge who would associate with your LLC and then obtain a firm license for your LLC.

Drew Sygit · Answer

@Nona Boyle maybe it was your intent to ask this question, but it's not what you initially wrote:)

Most states allow an owner to manage their own properties without a real estate or brokers license.

You may want to confirm though, how many properties (even though you own them all) you can sell per year without a license.

Shane H. · Answer

@Nona Boyle

What is the actual issue here? Your questions and responses are confusing.

Theres a difference between hiring an outsode company and hiring an employee at your company... otherwise every maintenance man would need a contractor license, the receptionist at the apartment building would needna real estate license. Etc. Can you give us the scenario so you can get a proper answer?

Nona Boyle · Answer

I could only post a limited amount of characters in the subject line.

According to the N.C. Real Estate Commission, a person can sell, lease and even provide property management to their properties.

I probably need to call them back to double check, because the person has someone working for them to do the property management.

I'm surprised that so much is allowed with any type of real estate license at all.

Can someone who has a real estate LLC lease and sell properties??

Can someone who has a real estate LLC lease and sell properties??

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