What states require a real estate license to become a business broker

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Clarification of Question by b3jz-ga on 29 Aug 2005 09:51 PDT

I am most interested in the following states: NY, NJ, CT, MA and AZ, CA.

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Request for Question Clarification by bobbie7-ga on 30 Aug 2005 09:50 PDT

b3jz,

Could you please clarify if by ?business broker?, do you mean ?real estate broker??

Would the information for NY, NJ, CT, MA, AZ and CA be a satisfactory
answer to your question?

Bobbie7

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Request for Question Clarification by bobbie7-ga on 30 Aug 2005 12:37 PDT

Dear b3jz,

Please take a look at the material I am providing for the State of
New York. 

Please let me know if this the type of information you require and if
it is, IŽll post similar information for the other five states you
mentioned in your clarification.

Thanks,
Bobbie7



A real estate license is required to become a broker

?How do I become a real estate salesperson or broker? 
In order to qualify for licensure as a real estate salesperson, an
applicant must have satisfactorily completed a 45 hour salesperson
qualifying education course in real estate approved by the Secretary
of State, and have passed a qualifying examination administered by the
Department.

In order to qualify for licensure as a real estate broker, an
applicant must have at least one year of experience as a licensed real
estate salesperson or at least two years of experience in the general
real estate field (e.g., buying and selling your own property,
managing property owned by your employer), have satisfactorily
completed both the qualifying salesperson course of 45 hours and an
additional 45 hour real estate broker course as approved by the
Secretary of State, and have passed a qualifying examination
administered by the Department.?

http://www.dos.state.ny.us/lcns/rebsfaq.html

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Clarification of Question by b3jz-ga on 31 Aug 2005 15:04 PDT

I am specifically referring to "business brokerage" where
intermediaries broker the sale of a business. I think for RE that each
state requires some sort of license. What I wish to know is which
states require that one have a RE brokerage license to work as a
business intermediary or "business broker."

Hello b3jz,

According to the Business Book Press, a divisions of RDS Associates,
the following States require you to have a real estate agent license:

Alaska
Arizona
California
Florida
Georgia
Idaho
Michigan
Minnesota
Nebraska
Nevada
Oregon
South Dakota
Utah
Washington
Wisconsin
Wyoming

Illinois requires a registration process only.

BUSINESS BOOK PRESS 
http://www.businessbookpress.com/catalog/cat8.htm

Arizona
In Arizona, a real estate license is required to be a business broker. 
http://www.arizonasunbelt.com/s26.html

California
Regular members of the California Association of Business Brokers must
have a current Department of Real Estate License
http://www.cabb.org/join-cabb.asp

Is your broker licensed?
Some states, like California, require business brokers to have real
estate license. Why? A real estate license forces the broker to
understand the laws of agency and understand his/her fiduciary duty to
you, the Seller. Also, many times the real estate is included with the
sale of a business.
http://www.sunbeltnetwork.com/sellers/broker-questions.jsp


What licenses are required in NJ to be a Business Broker? 

According to Russell L. Brown; MBA, Business Appraiser:  ?The Business
Reference Guide lists the states which have indicated that they
require a business broker to have a real estate sales license and New
Jersey is not one of them.?
http://www.businessbookpress.com/wwwboard/messages/1041.html


The Business Reference Guide
The Business Reference Guide (750 pages) is a real wealth of
information relating to business brokerage and the overall process of
buying, selling or valuing a business.
http://www.businessbookpress.com/catalog/b901.htm


Search criteria:
?business broker? requirements ?real estate license?


I hope the information provided is helpful!

Best regards,
Bobbie7

Excellent. Thank you so much.