PARTNERSHIP: "A broker can be a partnership. Every partner who performs activities that require a real estate license must be licensed as a real estate broker." So far so good, check out the continuation. "At least one broker partner must obtain an additional license for each branch office location. The partnership itself needs no separate license." WHAT DO THEY MEAN BY SAYING must obtain additional license FOR EACH BRANCH OFFICE LOCATION? What other license is there available then the brokers license when in fact they already are brokers? This s driving me mad.. please reply if you can.
Not knowing the state this is in and so forth i can't say with certainty what the full meaning is, but typically a state will require each physical office to have a licensed broker in that office. As a result if you open a 2nd office the person in charge of that office must hold a real estate broker license. The partnership is a separate issue. you can be a partner in the real estate brokerage and not have a license provided you perform no real estate broker activities at all, however without having that broker license you could not be the broker in charge of the 2nd location.
