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FAQS for Parking License
What other cost(s) are associated with parking my real estate license with your company?
Other than the $125.00 annual sponsorship fee...NONE.
Should you decide to engage in a real estate transaction, the transaction cost will be a 90/10 broker fee, meaning, if your commission check is $5,000, then the brokerage transaction will be 10% of the $5,000 which will be the amount of $500. Nothing else is charged if you close a real estate deal. Minimum broker fee is $500. Rentals/Leases are $99 or 10% whichever is greater. Referrals are 25%.
Again, you do not have to transact any real estate activities to simply hang your license with us, you may conduct some or none, the choice is yours. You can advertise yourself as a licensed real estate agent, and sell new homes or conduct other real estate activities such as REOs, Short-Sales, HUD homes, foreclosures, OR sell nothing and simply hang your license. Now, if you are a member of the Realtor® board because you are parking your license with our affiliated Realtor®company, then you are responsible for maintaining your dues with the board, if you cannot continue to pay the fees associated with the Realtor® board, then you may consider transferring to our other company Non-Realtor® brokerage company where membership is not required.
Again, the choice is yours and YOU regulate your costs.
Can you please send me a list of any other fees that your office charges besides the $125.00 annual license parking fee, i.e. desk fee, copy fees, mailing fees… etc.
As mentioned earlier, if you conduct a standard real estate transaction it’s simply a 90/10 broker fee split. There are no other costs.If you desire Realtor® membership (which is not required), those are separate dues between you and the Realtor® board.
Is the $125.00 annual fee PRORATED?
No... the annual license hanging fee is charged when you first activate your license with us. Then you are billed annually. There is no refund or partial refund or pro-ration of the annual license hanging fee. If you choose to become part of the company and hang your real estate license the cost will be $125.00, 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.Again, we are all trying to keep costs down, some agents have too much drama with moving around from broker to broker and it is not fair to all others that the low annual fee be increased because we have to add extra staff to accommodate a very few agents.
When will I be billed for my annual license hanging fee, or will I be billed the following year(s)?
All annual fees will be billed on the anniversary month of your affiliation with us. Sometimes the fee is deducted from a real estate transaction, the agent is so advised.
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 returned to the Texas Real Estate Commission (TREC). Then your affiliation with our company will have been cancelled.
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 again affiliate with us, you will have a new anniversary month and your annual billing month will also have changed.
I plan to discontinue my membership with a Board of Realtors® due to financial constraints. Can I continue promoting myself as a licensed real estate agent and continue to initiate real estate sales?
YES... Membership with the a Realtor® board is not required with our organization and yes you may continue with your real estate career with us as an active real estate salesman or saleswoman as long as you are presently licensed by the state of Texas and compliant with licensing statutes as mandated by the TREC. There are no membership requirements or organizations to join, simply hang your real estate license or conduct real estate activities as the law allows and save yourself a tremendous amount of money.
As a Non-Realtor® you will not have access to the MLS and your real estate endeavors will be limited. You need to determine what's best for you regarding REALTOR® membership or not. Realtor® membership mostly affects residential sales, if you are active with that specific market, consider maintaining your REALTOR® affiliation, otherwise, you may show new homes, REO’s, HUD and VA homes or even commercial properties. Overall... Membership or NO membership, you can have both worlds here; whether you want to be a REALTOR® or not, we can accommodate.
We have structured our organization differently, we have a Non-Realtor® brokerage; The Miramas Group, LLC #589143, which do not require you to be a REALTOR®, in fact, you can just hang your license with that entity and relax, or consummate a few transaction here and there if you so desire. The Miramas Group,LLC is not affiliated with the REALTOR® organization, thus membership with the Realtor® board is not a requirement.
But if YOU desire to be a REALTOR® or wish to be affiliated with the REALTOR® organization, then it's very simple. You will join our brokerage of 1st Brokerage #9007750, this brokerage is a REALTOR® / MLS members which requires Realtor membership to include paying all of the required realtor dues. The fee structure is $125.00 per year to hang your license, and if you close a real estate transaction, the split arrangement is 90/10 split.
You can join one organization and transfer to the other organization at any time. Some of our agents just starting out affiliate with our non-realtor member organization (Manago Management, LLC) because they do not have the money yet to join the Realtor board. When they become financially viable and desire to become Realtor members, they simply transfer to WindSun Realty, LLC and start their new careers as Realtors... Then again, some agents commence their real estate careers by becoming Realtors first by joining a realtor affiliated company, then they run out of money, and then they call us and request to affiliate with our non-realtor brokerage. Again, the choice is yours, you can jump from organization to organization and the fee stays the same; $125.00 per year, 90/10 if you close a transaction... and if applicable to you, your realtor dues.
Can I work part-time as a real estate agent and continue working a full-time job elsewhere?
Absolutely... YOU regulate your time and activities, not your broker; whether you close a few real estate transactions or none at all, you manage your agenda. Again, no minimum real estate transaction here, meaning if you don’t close a deal, that’s quite fine by us.
I live out of state OR out of the country, can I still hang my license with your firm?
Of course… As long as you are in compliance with the TREC licensing guidelines and current with your real estate license requirements, you can of course affiliate with us.
If I "hang' my license at your brokerage. How do I sell MLS properties without joining the board of realtors?
You are apparently unfamiliar with the licensing guidelines as established by the TREC. If you want to sell "MLS properties" as you indicated, then of course you would have to be a REALTOR®. In the website, it stated that you can just simply "hang" your license, or you could handle REALTOR® activities, but if you join our REALTOR® brokerage, then of course you would have to be a board member and pay all of the REALTOR® dues, and do what you do as a Realtor® in your case, sell "MLS properties".
As indicated in the website, and this information is common knowledge by most licensees, you are mandated in joining the REALTOR board if you affiliate with a REALTOR company, our organization allows a licensee to either be a Realtor, or a Non-Realtor, the licensee has a choice; many companies do not offer this choice, it's one or the other.
Can I perform property management or business brokering within your organization?
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. Business brokering requires funds to be held by the broker and sometimes monetary deposits are requested to be held by the agent. Again, too litigious for this brokerage to handle for the amount of money that we charge, so the answer to your property management business endeavor is "NO".