What is a co-brokerage relationship?

Co-brokerage is two licensed brokerages sharing one transaction. The broker licensed in the state where the property sits performs the licensed work there, and the commission is split between the two brokerages under a written agreement signed before the work starts.

Which states can you cover through co-brokerage?

We are licensed directly in Texas, Florida, Georgia, Tennessee and Utah. For other states we work with a licensed partner broker, and we confirm coverage for the specific state in writing before you sign anything.

Co-Brokerage Outside Our Licensed States

What co-brokerage is

Co-brokerage is two licensed brokerages sharing one transaction. The broker licensed in the state where the property sits does the licensed work there. The other brokerage brought the client or the deal. The commission is split between the two brokerages under an agreement that is signed before any work starts.

The short version: a co-broker covers a deal. A broker of record covers a company.

Most confusion about out-of-state coverage comes from mixing those two up. A company that needs to close one acquisition in North Carolina has a very different problem from a company that wants to manage rentals in North Carolina every month. Co-brokerage solves the first one. It does not solve the second.

Three arrangements, side by side

	Broker of record	Co-brokerage	Referral
What it covers	Your company, on an ongoing basis	One transaction	One introduction
Is your company licensed in that state?	Yes, as a licensed firm	No	No
Who does the licensed work	Your team, under our supervision	The broker licensed in that state	The broker who receives the referral
How it is paid	Monthly engagement fee	Commission split, per deal	Referral fee, per deal
Best for	Operating in a state	An occasional deal in a state	Handing a client off entirely

How a co-brokered deal works with us

You tell us the state and the deal. The property, the parties, and what needs to happen.
We confirm coverage for that state in writing. That means the partner broker's license and firm standing in that state, and that the state allows the commission to be shared with your brokerage. All of this is confirmed before anyone signs.
A co-brokerage agreement is signed for the deal. It names both brokerages, says who does what, and sets the split.
The in-state broker handles the licensed work in that state. That covers whatever the state treats as licensed activity, such as showings, negotiation and contracts.
The commission is paid broker to broker at closing, as the agreement sets out.

Why we set it up this way

One point of contact. You call us. You do not have to find, vet and negotiate with a new broker every time a deal lands in a new state.
Your home-state firm stays the anchor. Your company stays licensed and supervised where most of your business happens, and co-brokers the rest.
You can test a market before you commit to it. A few deals in a new state rarely justify a firm license, a broker of record, E&O coverage and a local office. When the volume does justify it, the next step is a full engagement in that state.
Coverage is checked, not assumed. Every state is confirmed for your specific deal before you sign, so you are never relying on a national coverage map that went out of date.
Priced per deal, not per month. You do not carry a standing fee for a state you touch twice a year. Terms are quoted for the state and the deal before anything is signed.

What co-brokerage does not do

The limits matter as much as the benefits, and it is better to see them here than find them halfway through a deal.

It does not license your company in that state. If you want to manage property, supervise agents or advertise as a brokerage there on an ongoing basis, you need a firm license and a broker of record in that state.
It does not let your unlicensed team members do licensed work there. The licensed activity in that state is performed by the broker licensed in that state.
It needs your company to be licensed somewhere. In most states a commission may only be paid to a licensed broker. To share in a co-brokered commission, your company needs to be a licensed brokerage, usually in its home state. If you are not licensed yet, that is where we start, with a broker of record engagement in one of our states.
States do not all treat out-of-state cooperation the same way. Some limit what an out-of-state broker may do or how they may be paid. That is why each state is confirmed before the agreement, not after.

Who this fits

A good fit

Multi-state operators with most of their volume in one or two states and the occasional deal elsewhere
PropTech platforms testing a market before a full launch
Commercial and investment clients with a single acquisition or sale outside their home market
Funds and holding companies buying one asset in a new state

Not the right tool

Property management companies that need a licensed firm in another state every month
Companies that want their own agents working in another state
Anyone planning to advertise as a brokerage in a state where they are not licensed

For these, the answer is a broker of record engagement in that state. Ask us about it.

Common questions

Is co-brokerage the same as a referral?

No. In a referral, one broker introduces the client and steps out, and the receiving broker handles the deal and pays a referral fee. In a co-brokerage, both brokerages stay involved in the transaction under an agreement that says who does what.

Can my company operate in another state through co-brokerage?

Not on an ongoing basis. Co-brokerage covers individual transactions. Operating in a state means a firm license and a broker of record there.

Does my company need a real estate license to co-broker?

To share in the commission, yes. In most states a commission may only be paid to a licensed broker. Your company is usually licensed as a brokerage in its home state, and the partner broker is licensed in the state where the deal happens.

Which states can you cover?

We are licensed directly in Texas, Florida, Georgia, Tennessee and Utah. For other states, we confirm coverage for your specific state in writing before you sign anything. Ask about any state.

Who is the partner broker?

For each deal, we share the partner broker's name, firm and license number in that state during scoping, so you can check them yourself with that state's regulator before you sign.

How is it priced?

Per deal, through the commission split. The terms are quoted for the specific state and deal, and written into the co-brokerage agreement before any work starts.

Co-brokerage for deals outside our states