Requirements To Be A Real Estate Broker In Texas
Real estate brokers in Texas play a vital role in the buying and selling of property. They are responsible for ensuring that transactions are conducted legally and ethically. However, becoming a real estate broker in Texas requires meeting certain requirements. This article will outline the qualifications, education, and steps necessary to become a licensed broker in Texas.
Qualifications
Before applying for a license, there are several qualifications that must be met. Candidates must be at least 18 years old, a legal resident of Texas, and have no felony convictions. Additionally, they must have a high school diploma or equivalent, and must not have any disciplinary actions taken against them by the Texas Real Estate Commission.
Furthermore, candidates must have a minimum of four years of experience as a licensed real estate salesperson, or a combination of education and experience totaling at least four years.
Education
Once the qualifications have been met, candidates must complete 270 hours of qualifying real estate education. This education must include 180 hours of core real estate courses and 90 hours of elective courses. The courses can be taken online or in-person at an approved education provider.
The core courses cover topics such as real estate principles, law of agency, contracts, and finance. Elective courses cover specialized areas such as commercial real estate, property management, and real estate appraisal.
Exam
After completing the required education, candidates must pass the Texas Real Estate Broker Exam. The exam consists of 200 multiple-choice questions and covers topics such as brokerage responsibilities, real estate finance, and contract law. The exam fee is $205.
Candidates must score at least 70% to pass the exam. If unsuccessful, they may retake the exam after a waiting period of at least 30 days. Candidates have up to two years from the date of completion of their education to pass the exam.
Application
After passing the exam, candidates must submit an application for a broker license to the Texas Real Estate Commission. Along with the application, candidates must provide proof of education, experience, and passing the exam.
The application fee for a broker license is $305. The license is issued for a period of two years and must be renewed before the expiration date. Brokers must also complete continuing education requirements to maintain their license.
Conclusion
Obtaining a broker license in Texas requires meeting certain qualifications, completing the required education, passing the broker exam, and submitting an application to the Texas Real Estate Commission. Once licensed, brokers play a vital role in the real estate industry and must maintain their license through continuing education requirements.