II. Starting a Brokerage
What Kind Of Work May The Brokerage Do?
All real estate services must be provided through a brokerage. However, a brokerage may only provide the real estate services that its related managing broker is licensed to provide.
A brokerage may retain more than one managing broker, each of whom may be licensed to provide different real estate services.
The brokerage is then permitted to provide all the real estate services that the managing brokers collectively may provide.
Brokerages should be aware, however, that if one of the managing brokers is no longer engaged by the brokerage, and if the other managing brokers are not licensed to provide all real estate services, the brokerage and its related licensees would only be able to provide the services for which the remaining managing brokers are licensed.