Realtor Broker Agent For Llc In Miami-Dade
Description
Form popularity
FAQ
In Florida, business brokers are required to have a real estate license to practice. To obtain a real estate license, you must be at least 18 years old, have a high school diploma or equivalent, complete a 63-hour pre-licensing course, and pass the Florida Real Estate Sales Associate Exam.
In Florida, agents can set up an LLC, PA (Professional Association), or PLLC (Professional Limited Liability Company) to receive commissions. But here's the kicker: the name of your entity must match your legal name. So if you're dreaming of calling your LLC something fun like “Sunshine Deals LLC,” think again.
Opening a real estate brokerage in Florida, requires a real estate agent to obtain a broker's license.
(a) A person may not operate as a broker or sales associate without being the holder of a valid and current active license therefor. Any person who violates this paragraph commits a felony of the third degree, punishable as provided in s. 775.082 or s. 775.083, or, if a corporation, as provided in s.
Many real estate agencies still operate under the same conditions: a director at the top, usually a salesperson, a sales team of agents who support their clients, a property manager and team who look after designated managements, and an administrative team.
Creating an LLC for real estate agents in Florida offers substantial benefits that can significantly impact your career. The protection of personal assets, tax advantages, enhanced credibility, and flexibility in management structure make it a wise choice for many professionals in the industry.
An S-Corp is often suitable for real estate agents with a robust client base and the potential to generate substantial income as the tax advantages become more beneficial at higher profit levels.
Limited liability company (LLC): An LLC is one of the easiest legal entities to start and maintain. It also has lower upkeep costs and stellar asset protection.
S Corporation: Tax Advantages for Growing Agents An S Corporation (S-Corp) is a corporation that has elected to be taxed as a pass-through entity, meaning profits and losses pass through to the owners' individual tax returns. This structure benefits real estate agents who plan to expand their business significantly.
The Florida Real Estate Commission (FREC) administers and enforces the real estate license law and is a division of the Florida Department of Business and Professional Regulation.
