Looking to open my own firm have an issue seeking advice

7 Replies

I want to open my own real estate firm but am not a broker yet.  

How do I go about this?

Hire a broker, jump thru all the other hoops.

Yes i have been advised to do so " hire a broker " Hire a broker to oversee all the deals i syndicate.

Does this broker have to have part ownership in my company or as long as my license is hung up in his office i can perform any real estate transactions in my own office / firm ?

Read your state licensing statutes online. There is a Boat Load Of requirements, reporting, etc in owning a brokerage.

This of course varies by state, but my broker is not the owner of our company, and we are the 3rd largest brokerage in the country and do business across most of the mid Atlantic.

The real question is, even if it is legal in your state, can you afford to hire a broker?

Russell Brazil, Real Estate Agent in Maryland (#648402), Virginia (#0225219736), District of Columbia (#SP98375353), and Massachusetts (#9​0​5​2​3​4​6)
(301) 893-4635

Hi Russell,

Very curious why you still operate under that broker?

Dont know how much brokers charge but i think anyone will be perfectly fine keeping a percentage of my deals 

@David Elliott

Not sure about your state but in FL sales associates cannot have any ownership in Brokerage firm.  

Get your brokers license. They also usually have some classes at your board dealing with opening a brokerage, etc. I just passed my brokers exam and the additional required education is in part running a brokerage. Also, if you take the GRI they cover opening a brokerage.

John Thedford, Real Estate Agent in FL (#BK3098153)
239-200-5600

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