F.A.Qs
Frequently Asked Questions about our sponsorship services. If you have any other questions, not listed here, feel free to call or send an e-mail.
By clicking on any of the questions below, you may view the answer.
General
Am I free to use any lender, title company or escrow company for my transactions?
Yes. You're free to select the services that best suit your clients' needs.
Am I provided with an office?
No, and this is how we’re able to provide such fantastic low broker fees to our agents. Rather than spending money on overhead like a large fancy office, we’d prefer to give it back to you so you can spend as much of your hard earned commission as you wish. With the technology and transaction management systems available today, agents have the flexibility to work from just about anywhere at anytime.
Are there any franchise fees?
Nope. There sure aren’t – no hidden fees.
Are you a HUD Certified Broker?
We sure are depending under which option you select for sponsorship. You can sell all the HUD properties you’d like.
Can I negotiate commissions and fees with my clients?
Absolutely. The real estate sales industry is increasingly competitive, and you’re free to negotiate the commissions, fees, rebate credits and levels of service to win over a client. No more having to tell clients and customers, “I’ll need to check with my Broker on that.”
Can I provide property management services under your brokerage?
The simple answer is... NO.
Property management requires trust fund reconciliation and trust fund monitoring, meaning it's too litigious for the broker to allow.
Do I have to join an MLS and Realtor® board with your brokerage?
We offer two options:
If you are aspiring to join an MLS / Realtor® company, but just don't have the funds yet available to pay the Realtor® dues, you can hang your license with us until such time you become financially viable to commit to the REALTOR® organization.
If you desire an MLS or REALTOR® firm, we can help you! Simply transfer your license to our Realtor® company and have MLS privileges with one simple transfer request.
Do you have a minimum ethical requirement for sponsorship?
Our brokerage certainly does. We will NOT knowingly allow or accept agents with current, unresolved or outstanding complaints with the TREC. Additionally, we will also not accept those agents which have had a negative TREC Enforcement Notice issued against them during the 12 months preceding request for sponsorship.
Do you have required sales meetings, and floor time?
No way! We dislike meetings just as much as you do, and floor time is old school.
- No floor time.
- No mandatory meetings.
- No need to come to the office.
- No monthly desk fees.
- No quotas of any kind.
- No bureaucracy.
- No sales quotas. Work full-time, part-time, or no time; as long as you keep you license active and pay your MLS dues.
Do you provide signs, business cards, and other marketing material?
Within our office intranet portal you’ll have access to a library of logos, business card templates, letterheads and more for your marketing campaigns.
How easy is the license transfer process?
Easily transfer your agent or broker license. You simply Join Now to notify us your ready to join and we will provide you with the instructions. Next pay your annual membership fee online and your done! You will then receive an email from us with your Independent Contractor Welcome Packet.
How much is sponsorship annual fee?
From Zero annually, depending on your selected sponsorship option, to become sponsored. If you are seeking sponsorship for an LLC Business Entity Brokerage, you will need to fill out the needed LLC Broker Sponsorship Forms. Please note: We do not for any reason pro-rate, offer installment payments, or grant refunds on annual or monthly fee after its been paid. Our annual license fee is charged when you first activate your license with us. Then you are billed annually. If you have other agendas and decide to discontinue your affiliation with us prior to your annual anniversary, the fee is NOT prorated or refunded.
How soon do I get paid after an escrow has been closed?
You will get paid the same day escrow is closed/funded and the transaction’s file is accepted via upload on our website file system within 48 hours of closing. In order to receive payment from escrow the broker must receive your CDA 48 hours before closing. Simply provide the escrow officer with the commission (CDA) disbursement form approved by the broker and a check/wire transfer will be paid directly to you from escrow. For our LLC Broker entities you control how quickly you get paid. Funds can be wired directly to your entity from the closing escrow agent, title company or attorney office.
How to obtain sponsorship for the first time?
To be able to begin to act as a licensed salesperson you must be sponsored by a licensed Texas real estate broker with an active license. Salespersons which are inactive currently or new applicants, by law, are not authorized to act as real estate agents. If your interested in becoming sponsored, you may file a sponsorship request form with your initial application to TREC if you have a broker sponsor willing to act as your sponsor. After your education and licensing requirements have been approved, TREC will send you and the sponsoring broker a copy of your license, and you may then act as 'active salesperson' for the broker upon receiving the license.
Is there a minimum sales volume?
NEVER. You can do one or hundreds of transactions per year as a sponsored agent with our affiliate brokerage. We want you to be successful in your business. Our success is dependent upon your success.
What about the cost of the E & O Insurance?
E & O insurance is included for our sales agents on standard transactions. Personal real estate transactions are not included within our E&O insurance. The fee for insurance does not apply to LLC Broker Sponsorship, each LLC is responsible for its own E & O insurance policy and its fees. Sponsored Limited Liability Company (L.L.C.) Brokerages will be required to provide proof of their own E & O insurance coverage upon application submission to the TREC. We do not require an ownership interest in your brokerage company, therefore E & O is required for all entity brokerages.
What happens if I don’t pay my annual fee?
We try not to create too much drama here; therefore your license will simply be terminated and returned to TREC. Then your affiliation with our company will have been terminated. If you wish to "Return" to our organization, then you have to start over and complete the paperwork mandated by TREC, and of course, the annual fee with us once again starts when you affiliate with us, you will have new anniversary date.
When can I begin doing transactions under the new broker?
When an active salesperson enters the sponsorship with a new broker, the salesperson and broker must notify the commission and pay the fee within 10 business days of sponsorship. The salesperson may act as the broker's salesperson from the date the notice and fee are in the mail to the commission. If you are not active or a newly licensed agent with TREC your license will need to be issued and active with TREC first, before doing any business.
Where do I meet with clients?
Most agents meet with clients at the clients’ home, particularly if it’s a listing. As far as buyers, you’ll meet with them at a property they’re interested in seeing. When it comes time to writing an offer for your buyers, many agents meet clients at a neutral location such as coffee shop, at the home they’re writing an offer on (during a second showing) or simply complete the offer and submit it all electronically. Closings typically happen at the title company.
Will TexasRealEstateSponsor.com™ offer broker support?
Absolutely. Our brokers are available by email at txresponsor@gmail.com, or by phone (210) 201-6250 7 days a week during business hours. After hours is by email only. We’re dedicated to supporting you and promoting your success; our brokers and agent support staff is the foundation of exactly that. Our Sponsoring Broker's and their support team are available to assist you with a transaction question or concern. Please note that the quickest response will be by email. If the question is more detailed, by phone will be the easiest method - please do not send long text messages.