What are the steps to opening one’s own Real estate brokerage?
Posted on July 3rd, 2010 in Renting & Real Estate | 1 Comment »
DayinthePark asked:
I'm a licensed California real estate broker. I know about the licensing, the MLS and the associations I must join to hang my own shingle. What are the steps that I don't understand?
Citrus Heights Real Estate
I'm a licensed California real estate broker. I know about the licensing, the MLS and the associations I must join to hang my own shingle. What are the steps that I don't understand?
Citrus Heights Real Estate

One Response
Jacksonville Beach Fl Real Estate
I was in the same boat as you. You first need to create a corporation. My research indicated that I needed to create an S-Corp for the type of business I was going to do. Also, don’t incorporate in Nevada or Delaware, instead, do it in California. Once your corporation is set up (including your TIN number), you need to get your corporation licensed by the DRE and move your license under the corporation as the officer. Then open a business account at your local bank. Then you decide if you want to do loans, sell real estate or both. Once you decided what you want to do, you then get E&O insurance. If you want to loans, you need to bring aboard lenders. If you want to buy and sell properties, you don’t need to do anything. This whole thing should cost you 3-4k in set-up cost. E-mail me if you need any info or if you’re in my area of southern california, we can work something out.
Regards