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    2 Replies Latest reply on Oct 10, 2008 6:00 PM by LUCKIEST

    Starting a Real Estate Business??

    ADouble Newbie
      Hi there-

      I am wondering what I need to in the way of permits or tax documents in order to open my own real estate brokerage in Massachusetts. I already have my brokers license, an Employer Identification Number, and will be acting as a Sole Proprietor. I also understand that Errors and Omissions Insurance is a necessity. Are there any additonal licenses or permits I would need in order to begin representing myself? Thank you for your help!
        • Re: Starting a Real Estate Business??
          Goussette Newbie
          You may want to consult with the Division of Corporation in that state. Since you indicated that you have an EIN, which is usually associated with a business and not a natural person, you may want to limit your personal liability by incorporating the business, which forms a separate legal entity apart from you and gives you an added shield of protection, as long as the "corporate veil" is not being pierced--commingling your personal funds with corporate funds, acting as if the corporation is your alter-ego. Since you already have your broker's license in that state, contact the Division of Financial Regulations (at least that's what it's called in Florida), which regulates the Real Estate Industry for a step by step guide. It wouldn't hurt to consult with the Board of Realtors in the County where you will be establishing your company either.
          • Re: Starting a Real Estate Business??
            LUCKIEST Guide
            Starting a Real Estate Business?? Welcome

            Re permits and licenses. There is a copy called businesslicenses (one word) on line.
            You enter your type of business and your zip code and they will tell you all the permits
            and licenses that you need. They can also help file them for you.
            It is great that you have a Federal I D Number. Do you have an Accountant??
            Do you know about SCORE?? SCORE is FREE and can help you succeed.

            Good luck, LUCKIEST