A broker of record typically describes the top level licensed real estate broker of a firm who is ultimately responsible for all licensed real estate agents involved in the brokerage whether representing buyer or seller real estate transactions. Brokers of Record typically supervises all brokerage actions.
You can now control every aspect of your business and also make your presence felt wherever you want without any restrictions. You are free to advertise about your company anywhere and derive maximum benefits from the online web world. You can improve your business in no time and start earning huge profits. This option is far superior allowing you to keep 100% of your commissions. You can choose the name that you want for your company.
To start your brokerage, we can help you set up your preferred type of corporation with the State of California (We advise you get guidance from a experienced Attorney). Agents with existing corporations can use them by adopting the name for their brokerage. We will help you with the broker of record services.
Your EIN or Tax ID is an important step for allowing you to open bank accounts for your commissions to be paid to you.
By submitting necessary forms to the DRE (California Department of Real Estate) upon approval I can serve as your Qualifying Broker of Record and register your company as a licensed real estate corporation. This step is necessary to be completed only after your corporation is properly set up.
An optional step is to register your brokerage with the local Board/MLS. Once the entity is approved and issued a DRE# you can register you with the local realtor Board/MLS if you want to promote listings on the MLS and gain more leads.
Now you have the freedom to list and organize showings, as well as sell and buy according to your business strategies. Your brokerage is now a fully operating Real Estate Brokerage and you are now able to collect FULL commissions regardless of whether you’re running a buyers or listing brokerage.
You can start to dream big and turn all your goals into reality without any restrictions (within the local laws)! This is your very own Real Estate Brokerage providing real estate services, and you have the freedom to promote your brand as you please, hire licensed agents, expand your goals and make the money you want as a Real Estate professional.
When a broker is licensed to have agents working under them, typically the designated licensed agent handles or over see's most or all of the brokerage transactions.
As part of the supervisory responsibilities for agents, the broker:
Real estate brokers set standards of practice in the area and are responsible with maintaining high levels of customer/client service and compliance with all state-based real estate laws.
A broker's obligations for supervision is to establish policies, rules, procedures and systems to review, oversee, inspect and manage and it is expected all salespersons and staff familiarize and understand the policies and rules with the compliance and requirements of federal and state laws.
To minimize this risk, brokers assume the responsibility of educating and constantly monitoring their agents.
We love our customers, so feel free to email us anytime at Info@brokerofrecordservices.com
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