Start and Own a Real Estate Brokerage
Start and Own a Florida Real Estate Brokerage
Own A Texas Real Estate Brokerage
If you’ve seen the TX requirements to become a real estate broker … well it’s pretty tough.
With education, you need 900 approved credit hours and pass the licensing exam.
With experience, you’ve got to have at least 4 years of consecutive TX real estate agent producing experience. It’s a point system of needing at least 3,600 points and the designated broker you’ve been sponsored under needs to certify the points by signing a form.
You may not be at that 4 year experience mark yet, short on education, short on the sales numbers, or may not even want to be a broker. But you know you want to own a brokerage, work under your own brand, maybe recruit agents and build up your company. You get 100% commission! All we charge is the monthly fee. No setup fees, annual fees, transaction fees, or broker splits.
Your Sponsoring Broker will be Travis Marshall, TREC Broker License # 617572. He’s been sponsoring brokerages since 2016.
We’ll help you setup the new LLC or amend the LLC if already have an existing one, Help obtain the required E&O Insurance, Help obtain an EIN for the LLC (IRS), File the TREC application and email them the supporting documents, Plus provide excellent broker support along with a Brokerage Office Policy and Procedures Guideline.
STEPS AND FORMS NEEDED
First off, let’s chat because there’s lots to go over. 844-538-1234. travis@Re-Brokerage.com
1. Texas Secretary of State: TXSOS – Certificate of Formation for Business Entity (LLC)
This is YOUR Company and YOUR brand. Take some time to think over the naming because it will identify your business and will be on your marketing material – signs, logos, etc. A name availability search can be done via the Texas Secretary of State website or you can call their office at 512-463-5555. It charges $1 per search through their SOS Direct. You don’t want to use a similar name of any other LLC in Texas or assumed name (dba -doing business as). There could also be a good chance they won’t approve it.
After you figure out the naming of your LLC, you need to fill out a LLC Certificate of Formation. This can also be most effectively completed online through SOS Direct. Cost to file this with the state is $300.
While you’re filling out this LLC application, Travis Marshall will need to be listed as a “manager” in addition to yourself. TREC requires the designated broker to hold an office, or be a manager in the LLC they are sponsoring. If you form a LLC without placing Travis Marshall as a manager, then TREC will not issue your business entity broker license. You would then have to amend your formation documents to add Travis, or if you have an operating agreement we can add to it.
After filing for your LLC online, you’ll have your LLC documents emailed to you from the TXSOS within 1-3 business days. After LLC approval by the state, it is recommended to also file an assumed name (dba) for your LLC. Example – if your company is XYZ Realty LLC, you will want to do business as “XYZ Realty”. This can be done through SOS direct as well and cost is only $25. The brokerage license will be issued and printed in the name of the LLC.
2. TREC – Application for Broker License by Business Entity
Now you need to fill out the Corporation/LLC Broker Application and send this to us for our signature. The TREC filing fee for this Business Broker License Application is $235.
3. TREC – Certificate of Insurance for Business Entity (E&O)
TREC requires the business entity to provide proof and maintain E&O Insurance in the amount of $1,000,000 if the Individual Broker sponsoring the Business Entity does not own 10% or more of the company. (Travis doesn’t own any of your company, so you must get this insurance). Form BE COI-1 must be included and filled out by your E&O insurance agent. I’ll give you a couple great providers to chose from and can let you know the typical costs – it’s far less than what you think.
4. IRS – EIN Form SS-4 and then Open a Bank Account in the name of the LLC
Get an EIN by filling out form SS-4. This can be easily filled out online and an EIN will be generated very quickly. Then you can use this EIN along with your LLC ownership papers to open a bank account.
After you have an approved LLC and are ready for us to sign the TREC Broker Entity Application, your first monthly payment is due. Consider this a deposit for once TREC approves your license. The effective date & billing date for sponsorship doesn’t start until your license is approved. Your 2nd month of sponsorship is FREE!
Billing cycle is 30 days from the effective date of sponsorship (when TREC issues the license). You’ll be sent an invoice monthly and can pay by ach bank account or card. Also offer autopay.
*Note – we don’t allow property management activities or creative methods like wholesaling/assigning, seller financing.
OUR PRICING
YOUR 2nd MONTH IS FREE!
DISCOUNT – When there’s at least 5 agents sponsored – pricing goes down to $300 per month total. Then $50 for each additional agent after your 5th one.
