Under TRELA, which of the following individuals is legally authorized to operate a brokerage, sponsor sales agents, and receive compensation directly from clients in Texas?
Correct Answer
A) A licensed broker only
Under Texas Occupations Code §1101.352, only a licensed broker may operate a brokerage, sponsor or employ sales agents, and receive compensation directly from clients. Obtaining a broker license requires meeting separate education, experience, and examination requirements distinct from a sales agent license.
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Under TREC rules, a trust account used by a Texas real estate broker to hold client funds must be maintained at which type of institution?
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Under TRELA, which of the following persons is NOT exempt from the Texas real estate licensing requirement?
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