Straightforward answers about how our Broker of Record model works — and what it doesn’t do.
Straightforward answers about how our Broker of Record model works — and what it doesn’t do.
Institutional Broker of Record Services is designed for investment firms, operators, and real estate professionals conducting transactions in states where they are not licensed or do not have a physical presence.
We support:
Yes. We hold active broker licenses and remain in good standing in every state we serve. Our agreements are structured to meet each state’s regulatory requirements.
We currently offer services in 35 states, including:
AL, AR, CA, CO, CT, FL, GA, IA, IL, IN, KS, MA, MD, ME, MI, NC, NY, NV, OH, OK, OR, SC, TN, TX, VT, VA, WI, and WA.
Need coverage elsewhere?
We may be able to expand based on your needs.
Turf states do not allow co-brokerage unless you hold a license in that state. In these jurisdictions, we must act as the sole listing agent and handle all licensed duties. Your role is limited to a referral capacity.
Turf States:
KY, MO, NE, NM, NJ, PA, and UT.
Physical presence states require the broker to maintain a local office or resident broker. In these states, we act as Broker of Record and you may participate only through a referral agreement.
Physical Presence States:
AK, AR, CA, D.C, DE, FL, HI, ID, IA, IL, ME, MA, MI, MN, MT, NY, OK, TX, VT, VA, WV, and WI.
Cooperative states permit out-of-state brokers to co-broker with a locally licensed firm. In these states, you can remain client-facing as a Listing Consultant or Asset Manager under our supervision. We handle required co-broker agreements and filings.
Cooperative States:
AL, AZ, CO, CT, GA, IN, KS, LA, MD, MS, NC, ND, NH, NV, OH, OR, RI, SC, SD, TN, WA, and WY.
No. In states where you are not licensed, you may not act as the official listing agent of record. Institutional Broker of Record Services will be listed as the Broker and Agent of Record.
In cooperative states and physical presence states, you may be identified in marketing materials as a Listing Consultant, Asset Manager, or similar non-licensed role. You may fully participate in client communications, marketing coordination, and deal strategy, provided your activities comply with applicable state laws.
In turf states, where co-brokerage is not permitted, you may not perform any licensed duties. Your role is limited to client support under a referral agreement, and all brokerage functions are handled by the Broker of Record.
In cooperative and physical presence states, you handle the transaction directly — including client communication, negotiation, and execution — under our supervision through a formal agreement. This model complies with state law and allows your active participation while we ensure compliance and oversight.
In turf states, all licensed duties must be performed by the Broker of Record. You may not engage in any brokerage activity but may support the transaction as a referral partner or strategic advisor.
In cooperative and physical presence states, you represent the client directly under our supervision. We provide the compliance framework and remain in the background unless specifically authorized to assist.
In turf states, all licensed representation must be conducted by the Broker of Record. Your involvement is limited to support or referral functions unless explicitly permitted by law.
Yes — with limitations. In cooperative and physical presence states, you may use your company’s branding and marketing materials if they comply with local disclosure requirements. Our name must still appear as the licensed Broker of Record.
In turf states, all marketing must originate from us and include only approved disclosures. Co-branding is not permitted in these jurisdictions.
In cooperative and physical presence states, co-branding may be permitted with prior review. All materials must comply with advertising laws and include required disclosures showing Institutional Broker of Record Services as the licensed brokerage.
In turf states, co-branding is not allowed. All marketing must be conducted solely under our name using approved disclosures.
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