Hi,

I am looking at entering a new business venture in real estate. I am located in Australia. Basically I would like to provide the funding to establish a new office/entity, and hire
staff with the required registration requirements to carry out the duties.

I am not registered or licensed, so I was wondering if I was able to employ a licensed agent to become the licensee in charge of the office, whilst I am the owner of the business however not actively conducting real estate activity. Mainly just being involved in the company finance, advertising and budgeting.

After investigation, I discovered that I may need to apply for a corporation license, however at least one of the directors must hold a license?

Does that mean when registering the company, would I have to include the director whom is to be licensee on the company registration docs, along with on the corporation license application form? Ideally I would like to be the owner of the company, and when completing the corp license application to
then include the licensee in charge details as co-director.

The question has also been raised as I sometimes see agencies with director names on the front window, and then the licensee in charge underneath is a totally different person.

Your feedback is appreciated.

Thanks

Shouldn't be any problem to be just a silent partner, as long as you aren't involved in any of the duties that require a license. I would talk to a qualified attorney regarding that for sure.

Good-day Mate:

It is better to be safe than sorry, therefore what you should consider, is obtaining competent legal advice, on a number of complex issues,that you can rely on .

Someone that can make you aware of all the prevailing laws and requirements governing your contemplated venture.

Someone who is familiar with the of forming and setting up a corporation, the cost involved, and the number, type and value of shares to be issued, the appointment of officers of the corporation, etc.etc.

In some jurisdictions, a real estate corporation, is required to be under the day-to-day management of a licenced real estate broker, although a unlicenced person may be the majority shareholder in the corporation.

Important Notice: This information is provided as basic educational information by the author and is not a substitute for the advice of an expert and/or the advice of a lawyer. There is NO representation as to legality, accuracy, correctness of the herein information and the reader is strongly urged to consult a lawyer in the relevant jurisdiction to ensure accuracy before acting on this information .

I saw your post. Hope you get this as there is no e-mail address in your profile.
I am a Real Estate Broker in Texas and may be interested in providing the broker license for the new business venture.
I have been in the Real Estate business and Mortgage business for 30 years. (and I am only 48 years old).
Please ler me know if Texas (Dallas or Houston market)is of interest to you.
my direct e-mail is birdsongmortgage@bigfoot.com
Thank you,

How about learning to read DALLASMTG&REBroker.

The poser of this question is in OZ, you are in TX. Do you have an Australian REAL ESTATE license?

Do you even know where Australia is?

its scary that people are willing to put their license at risk by an Internet posting. it amazes me everyday some of the stuff i see out there in the industry

bristowVA ~

I think, to be fair, DallasMTG&REBroker DID ask hilly1981 if he was interested in the Dallas/Houston market. It's possible he's thinking hilly1981 wants to be an investor, or at least provide venture capital for future ROI, here in the U.S. I don't think he intended to just jump in there with anyone without feedback.

I think, though, that hilly1981 needs to provide more information about where he wants to conduct business so that people can respond accordingly.

I agree, too, that people will sometimes put their necks on the chopping block without a second thought about the consequences. I don't think this was one of those, though. IF, of course I'm reading the questions and responses correctly.

Linda

Linda,

Based on tHe content of the message it seems to me clear enough that being in Oz he is looking to open a business there. The legal stuff seems to apply to Oz rather than the US, Devils advocate seems to think it is not a US operation he's looking for.

I do wish people would not give advice based on their location as RE law difffers in almost every state let alone Canada and other English speaking countries.

Hi, bristowVA ~

Hilly1981 should have clarified in his post where he wants to do business. Where it can be misinterpreted is where he wants to "provide the funding to establish new off/entity, and hire staff with the required registration requirements to carry out the duties". My thought was that he could actually be talking about anywhere in the world so I thought DallasMTG&REBroker's response was fair one.

I further agree about not giving RE advice. I wasn't and I hope no one took it that way.

Linda