Who must have a real estate broker's license in order to transact business?

Asked by Myrealestatetutor, Last updated: Apr 18, 2024

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A. Lucius, Senior Content writer, Diploma in Literature, Dover, Delaware

Answered Apr 15, 2021

Business brokers must have a real estate broker's license to transact business.
They are also called business transfer agents or intermediaries and are responsible for negotiating entire businesses' sales, including the stock equipment and buildings, for a promised fee.
The person is also responsible for assisting the buyers and sellers in the buying and selling process.

Myrealestatetutor

Answered Aug 29, 2019

The answer is person who negotiates the sales of entire businesses, including the stock equipment and buildings, for a promised fee. One does not need a real estate license to sell personal property (I.E., stock equipment) but does need one to sell the building. Owners are not required to obtain real estate licenses to manage their own properties (rules section 535.5(a)). The superintendent of a large apartment building is specifically exempt from being required to have a real estate license (trela section 1101.005(8)). An attorney-in-fact authorized under a power of attorney to conduct a real estate transaction is not required to have a license (trela section 1101.005(2)).