Do you have an LLC for your Real Estate Agent business?

[Corey Duran]

I have been an agent for about 6 years and do not have an LLC for this specific stream of income. I have lately been seeing this come up a lot lately from other agents. Would you recommend I do the same? Should I have an attorney form this for me? I was told it would be around $500 which sounds a bit pricey to me as I believe I know how to register an LLC in OH where I am located. However, if specific things need to be put in my articles I would rather it be done right. I am going to be the only member.

[Karen Yager]

I've been a Realtor for 17 years, paying huge taxes on my earnings the last few years. 3 years ago, I set up an LLC with an attorney. My CPA, which I finally hired 3 years ago, set up paying me a monthly salary, which means that I only pay taxes on the W2 income and very little on the rest of the earnings. He has saved me thousands of $$ in taxes. I had been paying up to $50k in taxes, so I'm relieved to find a solution.

[Eudith Vacio]

Hey @Corey Duran, most definitely recommend forming an LLC for your real estate business especially if you are making more than $100k a year. It's relatively easy to set-up, here in IL it costs around $150 to create on the Secretary of State website.

You can most likely ask another agent for a copy of the articles of incorporation, it’s not complicated if it’s just you. 

Goodluck 🙌🏼🙌🏼🙌🏼

[Eliott Elias]

I have a LLC for my realtor business, it makes record keeping easy & I can take advantage of the tax benefits that come with it.

[Biju Kurup]

I have an LLC too for my REALTOR business.

[Daylen Fiallo]

Agree with all the comments. An LLC would keeps everything clean as related to the business transaction, plus you get the liability and tax benefits.

[Katy Liu]

Does the LLC need to register with my sales agent license? I am trying to set up a property management LLC and operate under my sponsored broker. but I am not sure if the LLC i owned need to be licenced.