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Ask TexasREALTOR®
Q An agent I know announced that she’s going to open her own real estate company. When I mentioned that I didn’t know she had a broker’s license, she said she didn’t and wasn’t planning to get one. She can’t legally own her own real estate company without a broker’s license, can she? If so, why would anyone bother getting a broker’s license?
AYes, she can open her own real estate company. However, she still must have a sponsoring broker who will be responsible for her transactions and all her real estate activities. Like any other salesperson, she must also remember to include the broker’s name in all advertisements. She may not work for—or even at the office of—any broker who is not her sponsoring broker. And if she does not work at her sponsoring broker’s main office, that broker must obtain a branch-office license for the location from which the salesperson is working. Just as in any broker-salesperson relationship, it is up to the individuals to determine the level of supervision and commission splits. The sponsoring broker remains responsible for the actions of the salesperson regardless of their working relationship and has a duty to initiate reasonable supervision procedures.
Have a question about finances, licensing, technology, marketing, or other real estate issues? Ask Texas REALTOR®: texasrealtor@texasrealtors.com or (fax) 512/370-2390. Not all questions can be answered.
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Buyers & sellers, visit www.texasrealestate.com.
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