Do I need a real estate or other license?

POCN_V_LOGO_SM-W193-H150-ABOUT USDo I need a real estate or other license if I am a Business Buyer Advocate?

Probably, especially if your state requires licensing of people who perform any of the activities defined in the state statute that addresses the topic of real estate and business brokerage. Job titles, job descriptions, marketing phrases or the way you characterize yourself will not shield you from licensing requirements.

For example, if you say “I am not a business broker (and you’re not); I am a Business Buyer Advocate,” you should avoid confusing or misleading people. You could elaborate, such as: “When I say I’m not a broker I am referring to the common view of brokers, which is that their primary activity is listing businesses for sale, offering them to buyers and assisting the parties to consummate a buy/sell transaction.”

If, in addition to being a Business Buyer Advocate, you are a business broker (or similar intermediary), and you are communicating about the advisory services you perform for buyers, you could say: “The business broker’s primary allegiance is to business sellers. When I work as a Business Buyer Advocate I level the playing field for buyers. My loyalty is to the buyer (not the seller or the transaction).”

The key is to differentiate your buyer advocacy from what most people perceive to be the role of business brokers. Do not hide the fact that you sometimes work as a business broker; in fact, if you are a broker or another kind of intermediary, you are demonstrating that your experience, training and activities covers both sides of a buy/sell transaction; this can be a competitive advantage over people whose experience is not a diverse. Doesn’t it make sense to be a full-service dealmaker, able to handle either side of a buy/sell transaction?

Google: “Real estate licensing training.” It’s is a good way to begin your research on the topic. And then ask an attorney.


Click to email your comment or to contact us.