In California: Can brokers sell real estate without a company

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In California: Can brokers sell real estate without a company

Jason Mak
Rental Property Investor · San Marino, CA · Member since 2011 · 398 posts · 144 votes

Hello - I am a licensed broker in California (not an agent).   Do I need to license a corporation to sell real estate?  Or can I sell real estate using my own name?    

I don't do much transactions and wondering if since I am a broker, that I can broker the occasional deal without having my brokerage license associated with a corporation.

I would just purchase E&O insurance

thanks in advance

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  • Chris Isaacson
    Real Estate Agent · Rocklin, CA · Member since 2016 · 79 posts · 50 votes
    10y

    @Jason Mak Yes, just be a broker with your own name it is pretty common.

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  • Jason Mak
    OP
    Rental Property Investor · San Marino, CA · Member since 2011 · 398 posts · 144 votes
    10y

    thanks @Chris Isaacson

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  • Stephanie MedellinBusiness Member
    Mortgage Broker · CA · Member since 2014 · 1k+ posts · 644 votes
    10y

    Yes, you can use your own name or you can file a DBA if you want. You don't need a corporation.

    [email protected]
    Stephanie Medellin, Loan Factory58 Reviews
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  • Wayne Brooks
    Real Estate Professional · West Palm Beach, FL · Member since 2012 · 23k+ posts · 13k+ votes
    10y

    Not so fast......I'm sure your license has to be active, and if you are the principle/managing broker (whatever they call it there) you must have an actual brokerage business, recognized and licensed as such by the state RE commission.  They have all kinds of requirements and regulations about operating a brokerage business.  You can't start with "I'm JOE Shmoe broker, sign this agreement here".  I'm guessing @Chris Isaacson was referring to just the "name" of your business, not the RE commission requirements....not sure which your question referred to.

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  • Greg Rutkowski
    New to Real Estate · Las Vegas, NV · Member since 2016 · 105 posts · 31 votes
    10y

    This might sound dumb...so I'm sorry ahead of time. But as a Corporation...if something goes wrong, the corporation gets sued. As a person, if things go wrong then you get sued. 

    Just kinda asking...

    Greg

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  • Chris Isaacson
    Real Estate Agent · Rocklin, CA · Member since 2016 · 79 posts · 50 votes
    10y

    @Wayne Brooks You are correct, I assumed by his statement of being a licensed broker that it is an active license. It is actually odd that this thread got revived because I am going through the broker licensing process now and on the application they asked for the name of the company you are creating/joining. You can choose your own name (Chris Isaacson Realty or Chris Isaacson, Broker were examples given by the BRE) or you can have a brand name but you have to go through the process of a DBA. Your process may be different, since I am a new applicant they are covering it all now but since you have a license I would contact the BRE or go on to their website and see how it can be recorded so your new license is issued attached to your brokerage.

    @Greg Rutkowski Yes those are the risks of sole proprietorship.

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  • Greg Rutkowski
    New to Real Estate · Las Vegas, NV · Member since 2016 · 105 posts · 31 votes
    10y

    @Chris Isaacson, @Wayne Brooks, Thank you.

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