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
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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
What happens if a license holder is convicted of a crime? If a license holder is convicted of a felony or a criminal offense involving fraud it is a violation of section 1101.652(a)(1) of the License Act. This section gives the Commission authority to suspend or revoke a license holder that has entered a plea of guilty or nolo contendere or has been convicted of a felony or any criminal offense that involves fraud (including misdemeanors). The Commission does not have the authority to ...| 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
Online Services is not accepting my temporary password. What do I do?Copy the temporary password from the email message you received when you registered. Paste it into the “Online Services – Login and Registration” web page when you log in. You will be prompted to create a new password of your own. Once you create your password, you must save it to have future access to your online account.| www.trec.texas.gov