Do partnerships need to be licensed if real estate brokerage activity is performed under the partnership name?Yes. All business entities engaged in real estate brokerage activity, including partnerships, need to be licensed. [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. [TRELA §1101.355...| www.trec.texas.gov
How can I start a real estate brokerage referral business or Limited Function Referral Office (LFRO)?The real estate brokerage referral business, commonly called a Limited Function Referral Office (LFRO), must have a business entity brokerage license because the business is assisting in procuring property or clients to effect the sale, exchange, or lease of real estate [TRELA §§1101.001(A)(viii) and (ix)]. Only an active licensed sales agent sponsored by a licensed business entity may ma...| www.trec.texas.gov
I have moved my sponsorship to a new broker, can my prior sponsoring broker pay me a commission directly for a transaction or referral?Yes, Commission Rule 535.3 permits you to receive any compensation through your current sponsoring broker or the broker who sponsored you at the time you earned the right to the compensation. | www.trec.texas.gov
Name Filings FAQs| www.sos.state.tx.us