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Frequently Asked Questions - Broker & Company License

  1. Can I be a broker for more than one company?
  2. Can I be a broker for one company and an associate broker with another company?
  3. Can I be the qualifying broker for a corporation if I do not own any stock in the corporation?
  4. Can I open a company in my home?
  5. Can someone else use my company's name without my permission?
  6. I have just made application to open a new company. How soon may I begin taking listings and handling
    other brokerage business?
  7. I am a broker of one company and have an associate broker's license with another company. I am closing
    the company for which I am the broker, but wish to keep my associate broker's license with the other firm.
    Which box do I check on the application?

Q. Can I be a broker for more than one company?

A. Yes. See Rule 520-1-.07 (4).

Q. Can I be a broker for one company and an associate broker with another company?

A. Yes, provided that you give the required notice to the broker holding your associate broker's license. See Rule 520-1-.07 (4).

Q. Can I be the qualifying broker for a corporation if I do not own any stock in the corporation?

A. Yes, but you must be an officer. See License Law 43-40-18.

Q. Can I open a company in my home?

A. Yes, as long as you comply with all local ordinances regarding business activities.

Q. Can someone else use my company's name without my permission?

A. Company names are not a license law matter. Names of corporations are controlled through the Corporations Division of the Secretary of State's office. Other trade names must be registered with the Clerk of the Superior Court in the county in which the firm is operating. Whether someone is improperly using your trade name should be addressed by an attorney. See Rules 520-1-.04 (6) & 520-1-.09.

Q. I have just made application to open a new company. How soon may I begin taking listings and handling
other brokerage business?

A. A new company is an original application for licensure. You may not begin brokerage activity until you receive a wall certificate for the company from the Commission (usually seven to ten working days after the Commission receives a complete and correct application). See Rule 520-1-.05 (2).

Q. I am a broker of one company and have an associate broker's license with another company. I am closing
the company for which I am the broker, but wish to keep my associate broker's license with the other firm.
Which box do I check on the application?

A. Surrender an additional license.