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Tina
Tina, Lawyer
Category: Real Estate Law
Satisfied Customers: 5436
Experience:  17 years of legal experience including real estate law.
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I'm a broker of a firm in Orlando, establishing another

Customer Question

I'm a broker of a firm in Orlando, establishing another brokerage in Tampa (another city) and I am looking to establish and LLC with Orando brokerage and tampa Brokerage under that LLC so that it allows for all agents to do work for both offices
JA: Because laws vary from state to state, could you tell me what state is this in?
Customer: thoughts?
JA: Have you talked to a lawyer yet?
Customer: yes and getting ready to send it over to an attorney affiliated but I need to make sure this area of expertise is solid
JA: What advice did they give you? Anything else you think the lawyer should know?
Customer: need the best answer of course
JA: OK. Got it. I'm sending you to a secure page on JustAnswer so you can place the $5 fully-refundable deposit now. While you're filling out that form, I'll tell the Real Estate Lawyer about your situation and then connect you two.
Submitted: 5 months ago.
Category: Real Estate Law
Customer: replied 5 months ago.
also, can I set up the LLC and allow for a disclosure for clients letting them know by way of this disclosure:AFFILIATED BUSINESS ARRANGEMENT DISCLOSURE STATEMENTThis is to give you notice that Orlando Realty and Property Management ("ORPM") has an affiliated business relationship with Universal Realty and Property Management ("URPM") and vice versa. ORPM is owned and operated by Jason C. Myers. URPM is owned and operated by Jason C. Myers. This affiliated business relationship creates many advantages for the clients of ORPM and for URPM - including priority for service, extensive management experience quality control, and competitive pricing. As a result of this relationship, the principals of ORPM and URPM could directly and/or indirectly receive a financial or other benefit as a result.We know that you have a choice in selecting real estate professionals to guide you and we appreciate that you chose us to work with our firm. Thank you.ACKNOWLEDGEMENT OF RECEIPT OF DISCLOSURE STATEMENTI/We have received the Affiliated Business Arrangement Disclosure Statement regarding Orlando Realty and Property Management and Universal Realty and Property Management and understand that they may refer me/us to the service providers named in the Disclosure Statement, and that the principals of Orlando Realty and Property Management and Universal Realty and Property Management may receive a financial or other benefit as a result of this business relationship.____________________________ ________________________
Owner Signature Date____________________________ ________________________
Owner Signature Date_______________________________________________________________________
Rental Property Address
Customer: replied 5 months ago.
ORPM - Orlando Realty and Prop Mgt is brokerage #1 (ORLANDO) and URPM - Universal Realty and Prop Mgt is Brokerage #2 (TAMPA)
Expert:  MIAMILAW1127 replied 5 months ago.

Hello. Thank you for contacting me. I am a consultant here and I am looking forward to assisting you with your question. If at any point any of my answers aren’t clear please don’t hesitate to ask for clarification. Please be patient as I will be typing my responses to you from scratch. Also, I can only answer/address the questions you ask specifically based on the information your provide. Please try to provide as much information as possible so I can best assist you.

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What is your question so that I can better assist you?

Customer: replied 5 months ago.
I have a brokerage here in Orlando, we'll call it ABC Property Management / real estate Brokerage. I'm trying to open another Brokerage (DIFFERENT NAME) so we'll call that DEF Property Management/ real estate Brokerage in TAMPA. I would like the agents that are working for me here in Orlando for ABC Brokerage to be able to do business for DEF Brokerage in TAMPA as well. Understanding agents can only work under ONE brokerage, can I just establish and LLC with ABC Brokerage and DEF Brokerage under the LLC allowing for ALL Agents to work both ABC and DEF brokerage ?
Also, please see attached disclosure that will be included in ALL management agreements for new owners so that they understand this. Thoughts?
Expert:  MIAMILAW1127 replied 5 months ago.

You could structure it that way as far as having a master brokerage with the two corps (Orlando & Tampa) as the members of the master.

The issue is that agents will technically need to be employees of both the Orlando & Tampa corps to be able to bounce back and forth between Orlando and Tampa.

If your plan is to have two separate entities (Orlando & Tampa) with the Orlando agents doing business through Orlando and the Tampa agents doing business through Tampa, but all of it being under one master corp, then this is the right way to go. However, the only way you will be able to have agents doing business in both Orlando and Tampa is if you either make them employees of both sub-corps or only have one master corp with locations in both cities.

Expert:  MIAMILAW1127 replied 5 months ago.

You could structure it that way as far as having a master brokerage with the two corps (Orlando & Tampa) as the members of the master.

The issue is that agents will technically need to be employees of both the Orlando & Tampa corps to be able to bounce back and forth between Orlando and Tampa.

If your plan is to have two separate entities (Orlando & Tampa) with the Orlando agents doing business through Orlando and the Tampa agents doing business through Tampa, but all of it being under one master corp, then this is the right way to go. However, the only way you will be able to have agents doing business in both Orlando and Tampa is if you either make them employees of both sub-corps or only have one master corp with locations in both cities.

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