Broker of Record vs Getting Your Own License
For companies operating in more than one state, a broker of record is faster and cheaper than obtaining your own real estate broker license. Broker of record engagement activates coverage in 24 to 72 hours with no pre-license education, exams, renewals, continuing education, or E&O overhead. Getting your own license takes 60 to 180 days per state and costs $1,500 to $5,000 in fees plus ongoing renewal costs.
When broker of record wins
Choose a broker of record if you operate in two or more states, need to close a transaction in the next 90 days, or are a PropTech, SFR investor, or property manager expanding market by market.
When your own license wins
Choose your own license if you will operate in a single state for five or more years and have the internal capacity to manage state compliance annually.