Specifically regarding the state of California, although I'm guessing this is probably applicable in other states.
Can anyone explain the concept of having someone with a broker's license (not salesperson) being designated as an "officer" at a real estate company?
I've heard of people in California with broker licenses being paid by a company to be their "broker of record" or "designated officer". Does this mean that any matter requiring a broker license, the firm essentially pays a licensed broker to lend his license for signature purposes, etc?
Also, in some cases when I have seen acquisitions jobs posted, one of the requirements is a California broker's license. Why would a firm care if their Acq Officer had a broker's license? Would it be a means for the company to split commissions with listing brokers, i.e. collect some fee income, etc?
