Do Real Estate Agents Have to Work Under a Broker?

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  • Hey I liked the article but disagree with you on the base fee brokerages. Equity Real Estate charges $559.00 per transaction and offers more services than KW.

    • Mark Ferguson says:

      What services do they offer that Keller Williams does not>?

  • Do I still need to hang my license with an employing broker if I intend to only be my own agent in my own investment purchases?

    • Mark Ferguson says:

      Yes

  • Armando Soares says:

    Can I start my own business when still working to another Broker ?

    • Mark Ferguson says:

      That depends on your state laws. In Colorado you cannot start another brokerage while working under a different broker.

  • Hey.. me and my cousin are planning to come up with a joint estate agent.. is that possible? Do we need two licence? We want to come up with one company name jointly.. how can we go about it?

    • Mark Ferguson says:

      You would both need licenses to most real estate activity and work with a broker until you are eligible to get your own brokers license.

  • hi
    I have been an agent for 4 years. I just got my broker license and want to be independent from a brokerage. How do I do this? I am not interested in hiring agents i want to be independent. Please advice
    Thanks

    • Mark Ferguson says:

      Check with your state requirements for being an independent broker.

  • Hey, can i start my own real state company without license and hire broker,?

    • Mark Ferguson says:

      You can own a company, but you could not work as an agent in it

  • How about for a newly licensed agent who needs another few years (kids to be in kindergarten) before starting work? How would I keep my license during that time before starting work? Do the brokerages that ask nothing and offer nothing let people in my situation hang their licenses and be inactive?
    Thanks,
    Marie in Colorado

    • Mark Ferguson says:

      You can put your license on ice for a couple years as well if you don’t want to sell anything for those couple of years.

  • can two agents work together?

    • Mark Ferguson says:

      Yes, but they still need to work under a broker

    • Mark Ferguson says:

      They do

      • Hi,Mark how u doing
        I need your help
        I will start to work next week in Real Estate
        Broker position \
        Coz I didn`t understand about 50% commission what if I `ll sell for 1000.000$
        my commission is 500.000$ ????
        Plz let me know

        • Mark Ferguson says:

          Yes, if that is the split you agreed to with your broker.

  • 2 agents. Each have a PA (LLC). Both work under same broker. Can one of them accept full commission from a sale, and include it in sales in her PA (LLC), but then split it 50/50 with the other agent, who helped out with the sale, and pay her out of her PA (LLC)? Is this kosher, or are they required to get a direct split from the Broker? Sorry if dumb question, but I’m not a RE agent. I’m her Accountant.

    • Mark Ferguson says:

      I think that would depend on the agreement they have with the broker. Some brokers would probably allow it if the full commission is going through the brokerage first before it is split.

  • Can a PA real estate agent hang their license with a Florida broker while managing their property in PA?

    • Mark Ferguson says:

      No

  • Hiring a real estate broker would be very beneficial specially to those who needs on managing their assets. Thanks for the info.

  • Hello Mark,

    This article was a great read and I was hoping you could answer a quick question for me. I was wondering if there are any brokers that you had in mind for the real estate investor with a real estate license? I am planning on getting my real estate license in early 2018 and was looking for expert advice for choosing the right broker. Also, do broker commissions apply to wholesale deals?

    Thank you for your time!

    • Mark Ferguson says:

      They are all different in every area. Commission do not apply to wholesale deals if they are done right.

  • I will be taking the real estate class in NC in the next couple of months. I really enjoyed this article. Thanks

    • Mark Ferguson says:

      Thank you and Good luck!

  • patrick joseph says:

    Hi
    I am this person you describe — …..”an investor who only wants to use their license for their own deals, you may not want a training program that takes up your time. I would look for an office that offers high commission splits with no hourly requirements, but still offers training. As a new agent you are going to need some training and guidance even if you only work your own deals.”

    Question – Can you help me to identify a few brokers in the Philadelphia / Bucks County Pennsylvania area that are respective of the above scenario you describe ~ so that I may contract with them to sign for my real estate license ?

    thank you
    pj

    • Mark Ferguson says:

      Hey PJ, that is something that each person would need to do in their own area. It takes a lot of time sorting through brokers to find the best option.

  • Hello can I start my own real state business without a broker?

    • Mark Ferguson says:

      Not if you are a real estate agent or are going to become one.

  • Mark,

    Thanks for the informative and well-timed read for my personal circumstances. Outside my 9-5 desk job, I’ve maintained my CA salespersons license active for the past 10 years. It is currently non-broker affiliated. I have come across a transaction in which I am assisting family with the sale of a single family residence. I have a broker friend who will be executing the transaction as a dual agent to both sides of the party. What’s the best way for me to get paid on this deal? Simple as properly registering with broker through CA DRE and get 1099d? Or not get involved in the negotiation and get paid through escrow as a referral fee? Note, commission will be north of 30k so I’m assuming that’s above a given referral fee threshold. At this point, all I’ve done is brought the opportunity to my friend’s (broker’s) attention and he has a ready and willing buyer. Hope this makes sense.

    • Mark Ferguson says:

      I would check with state laws

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