Oftentimes, the broker of a real estate company is not the owner. Nevertheless, the broker must show financial responsibility in order to be licensed as the company’s broker. In some cases, a prospective broker is unable to meet the NRED’s broker licensing financial requirements. However, since the NRED “license individuals and not companies, ” the broker can complete the financial statements, but the owner of the company can provide the statements backing up the financial support for the broker, according to the licensing dept. of the NRED.
Can an Owner of a Real Estate Co. Provide the Required Financial Statement On Behalf of the Broker?
