Real Estate Brokerage Corporation

Real estate brokerage in Florida property

A real estate brokerage corporation must provide proof of legal corporate existence prior to its initial registration with the Department. The corporation and the names of all officers and directors of the corporation must be registered. At least one corporate officer must have an active real estate broker’s license.
In the event that a corporation has only one active broker, and the broker dies, resigns, or is otherwise removed from the position, the vacancy must be filled within 14 days calendar days.

During this time period, the corporation may not acquire any new brokerage business but may conclude existing business. No new brokerage business may be acquired until a new active broker is appointed and registered.

Failure of the corporation to appoint another active broker within the 14 days period will result in cancellation of the corporate registration. Additionally, the real estate licenses of corporate officers, directors and sales associates will automatically be placed in an involuntarily inactive status.

More then one active registered broker

However, if the corporation has more than one active registered broker, neither the corporate registration nor the real estate license of any corporate officer, director, or sales associate will be affected by the vacancy.
All corporate officers and directors, who provide real estate services to the public, either directly or indirectly, must hold an active real estate broker’s license. Brokers who have an inactive license, and persons who are unlicensed and serve as corporate officers or directors may not perform real estate services, but must be registered with the Department.

A sales associate or broker associate may not be an officer or director in a real estate brokerage corporation. Anyone can be a stockholder whether they are licensed or not.
A distinction should be made between a real estate corporation and a real estate brokerage corporation. A real estate corporation may buy and sell real estate for its own purposes, but may not provide real estate brokerage services. A real estate brokerage corporation is registered with the Department to perform real estate services for others.