Does a business entity need to be licensed as a broker?
A. An individual or a “business entity,” such as a corporation, a partnership or syndicate, Limited Liability Company, limited liability partnership, an association, a business trust or a joint venture, or an individual may be licensed as a broker in Wisconsin. If an individual engages in the practice of real estate in Wisconsin in the name of or under the authority of a business entity, the business entity must be licensed as a Wisconsin real estate broker. Otherwise, the individual would have to practice in his or her own name, assuming he or she is licensed as a Wisconsin broker. The Department may only license a business entity if the entity has at least one “business representative” (i.e., director, manager, member, officer, owner or partner) who is licensed as a Wisconsin broker. In such case, that broker will be responsible for compliance with the license law and for supervising any salespersons licensed in Wisconsin and associated with that entity. Only Wisconsin licensed busin
