Frequent question: What is the penalty for practicing real estate without an active license in Texas?

What is the penalty for practicing real estate without a license in Texas?

That’s because a change in the law that went into effect July 1, 2011 makes it a fourth-degree felony to “lease, rent, manage, sell, exchange, auction or option property for others without a real estate broker’s license.” The penalty for conducting such activities can carry a fine of up to $5,000 and 18 months in jail

When a Texas real estate license holder is in inactive status?

With an inactive license, you pay the renewal fee every two years to keep the license current but are not required to complete CE. This means you are unable to provide real estate services as a license holder but would have an inactive and current license with TREC.

Can you sell real estate without a license in Texas?

Section 535.6 states that a “person may acquire an option or enter into a contract to purchase real property and then sell or offer to sell the option or assign or offer to assign the interest in the contract without having a real estate license if the person: does not use the option or contract to purchase to engage …

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What is Texas Real Estate License Act?

The Texas Real Estate License Act is the legislation that governs the licensing of Texas real estate license holders. … The Texas legislature created TREC in 1949 (10 years after the creation of TRELA) for that purpose. Think of it this way: TRELA is the law, and TREC is the enforcer of that law.

Can a real estate agent work for multiple brokers in Texas?

A real estate agent who does not hold a brokerages license cannot work, as a real estate salesperson, for two brokers at once. The exception is when an agent holds licenses in two, or more, different states and they work for one broker in each. Different rules apply for licensed brokers.

What does an inactive license mean?

Inactive license means a license that has expired because it was not renewed by the end of the grace period. … Inactive license means any license that is not a current, active license. Inactive license may include licenses formerly known as delinquent, lapsed, or retired.

How do I reactivate my real estate license in Texas?

If you renew your license from 6 months to 2 years after your renewal date, you must apply to reinstate your license. You can do this by submitting a Reinstatement of Real Estate Sales Agent License or Broker License by Individual form and paying the required $190 renewal fee.

Can you be a part time realtor?

Yes, you can be a part-time real estate agent. The process of becoming a part-time agent is almost exactly the same as for people training to become a full-time agent. The only difference is that some brokerages typically won’t hire people who work part-time.

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Do real estate courses expire in Texas?

Once you have earned your Real Estate license, you will need to renew every two years by completing additional Continuing Education classes and paying a renewal fee to the Texas Real Estate Commission (TREC).

How do you get inactive in real estate?

Stop reporting continuing education hours for your real estate license. In most states, if course hours are not reported at their scheduled time, a real estate license will be placed into an inactive status. Refuse to pay your renewal fee on your real estate license by its due date.

How do I get an inactive real estate license in Florida?

A Florida real estate licensee may reactivate a license that has been involuntarily inactive for 12 months (or less) by completing a minimum of 14 hours of an FREC-prescribed continuing education course. The appropriate DBPR form to use is the DBPR RE 11.