In a real estate brokerage partnership, what is the minimum requirement for partnership structure?

In a real estate brokerage partnership, having at least one partner licensed as an active broker is essential because the law requires that real estate brokerage activities must be conducted by individuals who possess a valid broker's license. This ensures that the brokerage operates within the legal framework established for real estate transactions and adheres to the necessary regulations. This licensed broker typically oversees the operation and compliance of the brokerage, ensuring that all activities are carried out professionally and ethically.

The partnership structure can have elements like general partners or limited partners, but the specific requirement for at least one licensed active broker is critical for the business to legally function as a real estate brokerage. This requirement directly pertains to the accountability and expertise necessary for brokerage operations, emphasizing the need for licensed supervision in real estate dealings.