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Franklin, Attorney
Category: Business Law
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Can a California licensed real estate broker be the responsible

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Can a California licensed real estate broker be the responsible managing broker concurrently for two corporations formed under California law?
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.

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