Which entity can register with the Department to perform brokerage services?

A limited partnership can register with the Department to perform brokerage services due to its legal structure that allows for the ownership and operation of a real estate business. Limited partnerships consist of general partners, who have management control and are personally liable for the business, and limited partners, who typically invest capital and have limited liability. This structure allows the firm to engage in real estate transactions effectively while complying with regulatory requirements.

In contrast, a joint venture is generally a temporary partnership for a specific project, often lacking the formal registration typically required for conducting ongoing brokerage activities. Trusts, while capable of holding property, are primarily legal entities for managing assets and cannot perform brokerage services in their own right. A sole proprietorship, while easy to establish and operationally straightforward, does not provide the legal protections and structure that a limited partnership offers, making it less suited for extensive brokerage activities.