I currently own 50% of a NV s-corp that has an LLC in MS (the LLC is disregarded for tax purposes). The other half is owned by my partner. The LLC Flips homes in MS. When it was created, I was unlicensed, and we simply sold the properties we bought.

I now have a CA brokers license. I want to do the following:
1) list homes I don't own and sell them through the LLC (e.g. builders homes) and get paid a commission.
2) solicit other licensees to sell my products, and pay them a commission

Question, what company (the S-Corp or LLC) needs to have a broker? Also I was told you couldn't have a broker of record for on LLC, is that true?

Assuming I become the broker of record for the LLC (or S-corp), I also want to start a CA company to sell homes here in CA. Can I also be the broker for my CA company if I'm broker for the company above?

Thanks in advance,

Jeff

Jeff,

I don't have the answer, but I will tell you that I work for a real estate company in MS that is an LLC and we have a principal broker (broker of record).

Also, if you are going to sell property you don't own in MS, I believe you will have to either have a MS license or enter into a referral agreement with a MS broker. If you haven't see it already, you may want to check out the MS real estate commission website www.mrec.state.ms.us.

Good Luck - Pam