[Rule 535.154(d)], Assumed Business Name (also known as a dba) is another name for the broker’s business that can be used by all sponsored sales agents and brokers associated with this broker. Use this cheat sheet to prepare for the real estate license exam. Does Texas have reciprocity with any other state? The name on your government issued photo ID must match the name on your real estate license application. Can I be exempt from taking the National portion of the exam? Before you can renew your license, you are required to have completed a total of 270 hours of qualifying course hours, and the Legal Update I and II courses. Does Deferred Action for Childhood Arrivals (DACA) status qualify as a lawfully admitted alien? Can I take the buyers I represent with me to the new broker if the buyers signed buyer representation agreements? I want to renew my license active but am unable to complete my CE hours by the license expiration date. Does TREC consider promotional items and sponsorships to be advertising? What is the required information that must be provided in advertisements such as signs, email and business cards? Yes, as long as the advertisement complies with Rule 535.155 (effective May 15, 2018) regarding any restrictions that might apply. She didn’t state that she sold it but an average person reading the card could surely and reasonably imply an erroneous claim of involvement. What happens if a license holder is convicted of a crime? Under Texas law, a license holder may not “create a misleading impression” in their advertisement. The Information About Brokerage Services (IABS) representations disclosure is not required when:
Texas State Required Pre-licensing Hours: 180 hours Real Estate Express Texas Course Hours Offered: 180 hours Step 1. Check the status of your application using the Application Status Tracker. [TRELA §1101.002] Further to receive or maintain a license, a business entity must designate an individual holding an active Texas real estate broker license, in good standing, who is an officer, manager, or general partner of the entity to act for it. What if a license holder does not comply with the requirements for forming an intermediary relationship? Appointments provide the agents the opportunity to provide a higher level of service to their clients. An advertisement cannot in any way imply that a sales agent is the person responsible for the operation of a real estate brokerage. On the Statement of Applicant page, select "Yes" to certify the address information is accurate and correct, and click "Next" to process the request. When a rental locator represents an apartment complex, the locator needs the consent of the apartment complex. Under Actions for the sponsoring broker, click "Terminate" and then click "Next". Another name that indicates a broker’s line of business, e.g. If so, does that entity have to be licensed as a real estate broker? You will initially receive an inactive license. A license holder shall not use the license holder’s expertise to the disadvantage of a person with whom the license holder deals. [TRELA §1101.558(b-1)]. You’ll need to have two forms of valid ID with you. Update contact information and “Place of Business” (business physical) address on the Contact Information page and click "Next". Will this prevent me from taking the exam? A license holder is not required to provide the statutory written statement at the open house. You can document your experience in the Qualifying Experience Report for a Broker License form. Keep in mind that the associated broker registers the assumed business name that is used when they are not associating with another broker and the broker that they are associating with registers the team name being used when associating with that broker. What is the difference if a broker appoint sales agents to represent the buyer and the seller or if the broker makes no appointments to the principals in a real estate transaction? Can any of these courses be used towards the required qualifying courses to obtain a sales agent license? Yes, as long as the ad complies with Rule 535.155 (effective May 15, 2018), which requires the consent of the party the license holder represents in a transaction. However, a rebate to a buyer from a license holder may be subject to restrictions by the buyer’s lender. As such, the buyer would still be represented by the sales agent’s previous broker. A sales agent may own the firm but the business must be conducted through the sales agent's sponsoring broker. Can an individual sales agent use an assumed business name in advertising? On this page you will find a full list of frequently asked questions about how to get your Texas real estate license, the Texas license qualifications and requirements, the TREC fitness determination, information about the 180-hour Texas real estate license course, how to apply for a Texas real estate license … Whether you choose to take the course via the Classroom, ChampionsLive!® Broadcast, or Online-Correspondence, you will have access to timed online mock exams that will help you take the guesswork and stress out of testing! Complete 270 hours of pre-license education. CE must include 4 hours in Legal Update I and 4 hours in Legal Update II, and 10 hours in CE elective courses for a total of 18 hours. If you prefer, you can also apply for your Sales Agent license using our paper application. Am I required to complete the Legal Update I and Legal Update II courses? Yes. What are the agency disclosure requirements for a real estate license holder? It is important to remember that there will always be a single intermediary broker even if another license holder has been authorized to make the specific appointments. Using “REALTOR” or “agent” is insufficient to distinguish the license status of sales agent. The exceptions to the representation disclosure are in TRELA §1101.558(c). For a more detailed discussion of what an unlicensed person can and cannot do, see the article on our website titled “Use of Unlicensed Assistants in Real Estate Transactions.”. Rule 535.155 requires each advertisement to include the following items in a readily noticeable location in the advertisement: Any agent who worked with the seller or the buyer in a transaction that resulted in the sale of a property may correctly state in an advertisement that they “sold” the property. Is a license holder required to provide a party with written information relating to agency? To avoid an advertisement that implies the sales agent is responsible for the operation of the brokerage in this situation, the sales agent should make sure that the ad clearly indicates that the sales agent is not the broker. [TRELA §1101.355 and Rules 535.50(5) and 535.53] All advertisements must comply with TRELA §1101.652(b)(23) and Rules 535.154 and 535.155. Rule 535.146(b)(2) prohibits a sales agent from having an escrow account. Citizen of the United States or lawfully admitted alien, Meet TREC’s qualifications for honesty, trustworthiness, and integrity, Principles of Real Estate I (30 classroom hours), Principles of Real Estate II (30 classroom hours), Promulgated Contract Forms (30 classroom hours). Yes. Each course has a 60 question multiple-choice final exam with a grade of 70%. Do I have to disclose that fee to my client and use a TREC form? Does TREC consider a license holder’s URL or domain name or email address to be advertising? [See §535.2(i)(6)]. The US Citizenship and Immigration Services (USCIS) Department website specifically states that deferred prosecution does not provide lawful status to a DACA recipient. the buyer executes a Buyer Representation Agreement or other written document that authorizes the broker to act as intermediary and specifies the conduct that is prohibited under TRELA §1101.651(d) in conspicuous bold or underlined print. This disclosure may be oral or in writing. The name on your government issued photo ID must match the name on your real estate license application. You will be prompted to create a new password of your own. The final exams are proctored online through Proctor U. TREC does not consider URLs or email addresses to be advertisements in and of themselves. I am a sales agent. 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