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Franklin, Attorney
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Can a California licensed real estate broker be the responsible

Resolved Question:

Can a California licensed real estate broker be the responsible managing broker concurrently for two corporations formed under California law?
Submitted: 2 years ago.
Category: Business Law
Expert:  replied 2 years ago.
Hello, my name is XXXXX XXXXX U.S. business attorney based in Los Angeles, California, and I'll be happy to answer your questions today.

The answer to your question is "Yes," a California licensed broker can be the responsible managing broker concurrently managing two corporations. The CA Code does not prohibit such an action. However, the managing broker is still responsible for the actions of his salespersons, managers, and licensees, and exercising responsible supervision over their actions, no matter how many corporations he or she is supervising.

Here's the applicable section:

" (h) As a broker licensee, failed to exercise reasonable
supervision over the activities of his or her salespersons, or, as
the officer designated by a corporate broker licensee, failed to
exercise reasonable supervision and control of the activities of the
corporation for which a real estate license is required."

In addition, the licensed broker can even appoint a manager to manage those corporations in his stead.

Here's the applicable section from the CA Codes:

"10164. (a) An employing broker or corporate designated broker
officer may appoint a licensee as a manager of a branch office or
division of the employing broker's or employing corporate designated
broker officer's real estate business and delegate to the appointed
manager the responsibility to oversee day-to-day operations,
supervise the licensed activities of licensees, and supervise
clerical staff employed in the branch office or division."

I sincerely XXXXX XXXXX answer addresses your concerns.

Please take a moment to accept my service. We experts depend on positive ratings to continue helping out, so thank you in advance for your support. (And bonuses are always appreciated!)
Franklin, Attorney
Category: Business Law
Satisfied Customers: 653
Experience: Clients consistently recommend my excellent service.
Franklin and 14 other Business Law Specialists are ready to help you
Expert:  Franklin replied 2 years ago.
I sincerely enjoyed answering your questions on JustAnswer.com. If you have any more questions, or would like to follow-up, feel free to stop by and chat. To request me in the future, simply write "Hi, Franklin" before your question.

Have a great day!

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