I need to open a real estate company in Los Angeles, however i am not a licensed broker. I do have a partner that is willing to be the broker on record for my company. (1) how do I go about that ie.. what forms?(2) does the person that is going to be broker on record have to be an officer of the company?
All this is covered in the educational requirements to become a licensed broker. Ask your partner to dust off his text books.
If you assess round you're going to ordinarily uncover the typical rate for a vacant lot is towards 10%. The motive for that is it can be tougher to promote a vacant lot for your discipline, and the income rate is far scale down than promoting a residence, which means that the agent makes much less cash. In my discipline, land is anyplace from 20 to forty% of the importance of an elevated estate. So if neighboring houses are promoting for $500K, then your lot could promote for $100K to $200K. An agent might take a directory for a residence and make five% of $500K that's $25,000 or he might record your lot for five% of $200K, that's $10,000. I recognise which directory I could take!! Sure he is not doing open residences, however the ones are a funny story anyways. Any well dealer will inform you open residences have just one role; to make the Seller think well. As anybody else intelligently talked about, you get what you pay for!!!
Contact the California Real Estate Commissioner at the California Department of Real Estate. They will have all the forms that you will require. You might also check with your local Association of Realtors for help. They should also have the forms that you will need. No the broker doens't necessarily have to be an officer of the company.....many RE companies are not even incorporated. But there must be a licensed broker of record on the paperwork submitted to the DRE. You will also want to join at least the local Association of Realtors and MLS.
