Faira charged with operating as unlicensed brokerage by regulator

  • Faira, an FSBO startup, has been charged with operating as an unlicensed brokerage by a Washington state regulator.
  • The regulator has threatened to send a cease-and-desist order to Faira for alleged activities such as holding funds in connection with a transaction.
  • Faira maintains that it follows all applicable licensing laws, noting that it holds a broker's license through a subsidiary.

The Washington State Department of Licensing has notified Kirkland, Washington-based FSBO startup Faira that the agency planned to serve the company with a cease-and-desist letter for conducting certain activities without a broker’s license, including negotiating funds in connection with transactions.