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curiousgeorge1 · Sep 12, 2011, 08:15 AM

Can someone own a real estate company (brokerage) and not be a real estate agent or broker, but hire a broker instead?

Fr_Chuck · Sep 12, 2011, 10:39 AM

The issue is, that unless you have a license you can't receive any part of the commission,

But the issue is easy to solve, the real estate agent test is very easy to do. ** and of course if you don't know the business you could not help or do anything in your own business.

twinkiedooter · Sep 27, 2011, 10:13 AM

Originally Posted by curiousgeorge1

Can someone own a real estate company (brokerage) and not be a real estate agent or broker, but hire a broker instead?

Sure someone can own the business and not have a license to be a real estate agent. The owner just can't perform the duties of a licensed real estate agent or broker.

Fr_Chuck · Sep 27, 2011, 10:30 AM

I am sorry twinkiedooter but the issue will still be payment. I would assume the business would have to be set up as a corporation but a real estate company has to be licensed under a broker or set of brokers, the brokers are the ones paid, and the ones who has the duty to set up escrow accounts.

The brokers could perhaps pay for use of space, but a non licensed person could not receive or be paid in any way from the commission of the sale of the property.

Note I have held my insurance license in several states and while you may live in a state that allows this, I am not aware of any.