RETECHNOLOGY PREMIUM MARKETPLACE RELATED PRODUCTS | WEBINARS | SPECIAL OFFERS
You are viewing our site as a Broker, Switch Your View:
Agent | Broker Reset Filters to Default Back to List
Due to the ongoing situation with Covid-19, we are offering 3 months free on the agent monthly membership with coupon code: COVID-19A
UNLIMITED ACCESS
With an RE Technology membership you'll be able to view as many articles as you like, from any device that has a valid web browser.
Purchase AccountNOT INTERESTED?
RE Technology lets you freely read 5 pieces of content a Month. If you don't want to purchase an account then you'll be able to read new content again once next month rolls around. In the meantime feel free to continue looking around at what type of content we do publish, you'll be able sign up at any time if you later decide you want to be a member.
Browse the siteARE YOU ALREADY A MEMBER?
Sign into your accountChoosing the Legal Form for Your Real Estate Business
August 21 2016
Most real estate agents are independent contractors—self-employed business owners who are affiliated with a licensed real estate broker in their state. As such, they are running independent businesses, even though they must work under a licensed broker's supervision. This post will help guide real estate agents and brokers on how to choose the correct real estate legal forms.
Of course, real estate brokers are also running businesses—they usually own a real estate brokerage firm, either themselves or with other brokers, for which one or more agents work. Every business has a legal form. If you're working as a broker or agent right now, you are almost certainly involved in one of the following types of business entities:
- sole proprietorship
- partnership
- corporation, or
- limited liability company (LLC).
The sole proprietorship and partnership are the "default" entities— they come into existence automatically unless a business's owners take the steps necessary to form one of the other entities.