In order to start a brokerage, an LLC must be formed with the state via Sunbiz.org (there are laws against licensed agents being listed on the LLC we will help you do it the right way). If you already have an LLC that you want to use – this will be the name of the brokerage so be sure! – you can skip this step. NOTE: Licensed Sales Associates are NOT allowed to be an officer, director or manager of the company
In order to open bank accounts so that your new brokerage can collect commissions, you’ll need a federal EIN or Tax ID. I recommend while you apply, to fill out the form to elect to be treated as an S-Corp, which then allows shareholders (this is especially important if you are a licensed sales associate)
After your LLC is set up, we submit 2 simple forms to the DPBR (myfloridalicense.com) one is to register the company as a real estate corporation and the other is to register me as your Qualifying Broker of Record, both are basically applications for the licenses.
Usually in about two weeks or less, we will receive the active license numbers for the company. Then, you can register your new brokerage with the local realtor board/MLS. This is 100% optional, as your brokerage can still perform licensed real estate activity without this, but you would need it if you want to list and show property off of the MLS.
At this point, your new brokerage is a full fledged, fully operational Real Estate Brokerage, free to buy, sell, list, and show real estate (of course only licensed people employed by the company may performed licsensed activity). Your brokerage is free to collect FULL commissions, whether as a listing brokerage or buyers brokerage or both!
This is YOUR brokerage, you may market the brand any way you see fit, hire agents, expand, anything you can dream up you can do. It’s YOUR company!!