Registering a Real Estate Company

Before you start operating a Real Estate company, it has to be registered. There are certain requirements before a real estate company can be registered. If you don’t know how to go about this, read on.

Gathering the Team for your Real Estate Company

It is critical to understand that a person who holds the position of director or officer must either be registered as a qualifying broker or must be licensed. This means an unlicensed person is prohibited from managing the sales force, directing advertising, or having any contact with real estate customers. For a company to qualify as a real estate company, it requires certain officers. They include

A qualifying Broker

In your new Real Estate Company, there must be at least one active Florida Broker who is an officer, director, member, manager, or partner of the entity.

To get your broker’s license in the state of Florida, you will need to have an active real estate sales associate license, 24 months of real estate experience during the five year period before you apply to become a broker or real estate sales associate.

You also have to pass the Florida Real Estate Broker Examination with a grade of at least 75 out of 100 points. You also have submit a completed DBPR RE 13 Broker Transactions form so your license can be activated. If you don’t submit the broker transactions form, your license will be issued as inactive.

This must be reflected on the Department of State, Division of Corporation website www.sunbiz.org. After you have been issued your license, you have to successfully complete a 60-hour post-licensing course for brokers before your broker’s license expires.

Sales Associate

To qualify for a license as a Sale associate in Florida, you must be at least 18 years old and have a high school diploma or GED. You must have successfully completed 63 classroom-hours of pre-licensing courses.

You also have to submit a completed application, electronic fingerprints, and the licensing fee. Furthermore, you have to pass the Florida Real Estate Sales Associate Examination with a grade of at least 75 out of 100 points or pass the Florida Real Estate Law Exam with a grade of at least 30 out of 40 points. The next step is to Activate your license using the DBPR RE 11-Become Active – Sales Associate or Broker Sales Associate form Have your employing broker activate your new license online using the broker’s online account.

After you have been issued your license, you have to successfully complete post-licensing course for sales associate consisting of at least 45 classroom-hours, before your initial sales license expires.

Payment of Fees

The fee payable is $77. Payment can be made either by using the DPBR Online Services or by personal check or money order.

Submission of Application

Once you have assembled the necessary officers and officials set up your business entity and your articles of incorporation or organization have been submitted to the Florida Department of State Division of Corporations, the next step is to register your company with the Department of Business and Professional Regulation (“DBPR”) as a real estate brokerage.

This can be done either manually or on the DPBR Licensing Portal. This can be done manually by filling out DBPR form RE7 and sending it in to the DBPR, or you have the option of completing your application online at www.myfloridalicense.com.

If you opt for the online registration, you can easily submit your application by clicking on the “Online Services” link or the “Printable Application” link at the bottom of the portal page.

Registering a Real Estate company may involve a lot of requirements and formalities. To make things easier and less complex, it is important to seek legal assistance or employ the services of an experienced lawyer who can guide you every step of the way.