Real Estate: How Does Contracts Work?

This is normal. A real estate broker would obtain a California corporate real estate broker license. This protects him/her from being personally responsible for any financial damage or being sued by someone or another

corporation or company.

You don't need an attorney to understand the structure of the corporation. Your contract would be with the

corporation that the broker license is held in.

Your contract is with the corporation that has the real estate broker license. You would not have two contracts, one with the corporation and one with the broker.

If the corporation defaults and goes bankrupt, the real estate broker is not responsible for financial damages of the corporation. The corporation would be liquidated to pay off any debts owed and the others would be unpaid and liquidated, with the real estate broker not personally held responsible for any financial debt of the

corporation.

This is why corporations are set up to hold harmless individuals of corporate debt as oppose to the individual

being held responsible.

The corporation is paid after which based on your percentage of the commission you are paid out of the

corporate funds. Based on the day the corporation normally pay it's real estate agents you would be given a check for any transactions you are entitled a commission for.

This is no different than if you decide to become a real estate salesman with Century-21. You sign an agreement with the Century-21 corporation. When you have completed a sale, Century-21 get the corporate commission check and then based on the time period in which you are paid would prepare and give you a commission check from Century-21 corporate account.

I hope this has been of some benefit to you, good luck.

"FIGHT ON"

Go see a lawyer. Trust me, it will be $200 or $400 well spent. You need to protect yourself.

Most of your questions would have been answered in the required pre license education.

wow. and you have your license already.