Question

Three brokers get together and decide to form a corporation to sell real estate. They want to call their company "House of Brokers." Each broker wishes to maintain contact with the public. What is necessary to do this?

Answer 1

To maintain contact with the public and sell real estate as a corporation, the brokers would need to go through the process of incorporating their business.

Step-by-step explanation:

In order for the brokers to maintain contact with the public and sell real estate as a corporation called 'House of Brokers,' they would need to go through the process of incorporating their business. Incorporation involves seeking permission from the national and state governments to establish the corporation as a legal entity. This would allow them to maintain contact with the public and sell real estate under the name 'House of Brokers.'

Once the corporation is formed, the brokers can choose to make it a public or private company. If they decide to become a public company, they can sell shares of the company to raise revenues. If they choose to remain a private company, they would not have shareholders and their ownership would be limited to the brokers themselves.