Broker vs Agent Question

[Tweeve11]

Hey all,

I am currently in the process of getting my real estate license in the state of Florida. This is my slowlane backup but recently I had (what I believe to be) a very good idea on how to develop a real estate business that is very much fastlane....

It involves building a franchiseable real estate agency. I am positioned in a certain niche and have found that there doesn't seem to be anyone else attempting what I would do, but the one and only caveat is that at the time of my licensing, I wont be a broker. In Florida, I would have to work under a broker for 24 months before being able to take the broker class.

So my questions lie in what defines a brokerage as a brokerage?

I believed that I had to be a broker to hire agents to work along side (or under) me within my business. Is this true?

Theoretically speaking, could I get my license and immediately start an independent real estate company, then if i was able to capitalize on my market the way I plan too, could i then franchise my company out to other agents and/or brokers? Or do i have to become licensed as a broker before I can do any hiring or expansion of my business?

Also, if my assumptions are correct, and I do in fact have to be a broker before I could build a franchise, is it possible to just joint venture (50-50) with someone who is newly broker licensed and looking to build a business?

 

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[Sauce]

Hey all,

I am currently in the process of getting my real estate license in the state of Florida. This is my slowlane backup but recently I had (what I believe to be) a very good idea on how to develop a real estate business that is very much fastlane....

It involves building a franchiseable real estate agency. I am positioned in a certain niche and have found that there doesn't seem to be anyone else attempting what I would do, but the one and only caveat is that at the time of my licensing, I wont be a broker. In Florida, I would have to work under a broker for 24 months before being able to take the broker class.

So my questions lie in what defines a brokerage as a brokerage?

I believed that I had to be a broker to hire agents to work along side (or under) me within my business. Is this true?

Theoretically speaking, could I get my license and immediately start an independent real estate company, then if i was able to capitalize on my market the way I plan too, could i then franchise my company out to other agents and/or brokers? Or do i have to become licensed as a broker before I can do any hiring or expansion of my business?

Also, if my assumptions are correct, and I do in fact have to be a broker before I could build a franchise, is it possible to just joint venture (50-50) with someone who is newly broker licensed and looking to build a business?

In NM, you have to be an associate broker for 2 years before opening your own brokerage.

However, there are some qualifying brokers that will let you use their license for a price.

Other than having the correct licensing, what other value is the other partner bringing to the table? And other than your idea, what value are you bringing to the table?

In order for a business relationship to work, both parties need to bring something to the deal.

 

[Tweeve11]

ahh okay, that makes sense.

I am bringing some startup capital and also the knowledge of the niche (I truly am perfectly aligned). The partner would bring knowledge and wisdom of the traditional business. I have a strong desire to succeed as well as learn. I would be providing the hustle and passion to the business while a partner could hopefully provide the guidance and knowledge to get me to the fastlane level while being somewhat administrative and not so hands on (i don't want to say hands off because it wouldn't be, but if i had my ideal work/effort split it would be 75/25)