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Old 02-26-2010, 07:26 PM
 
Location: Morgantown, WV and Charlotte, NC
99 posts, read 293,057 times
Reputation: 101

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Hi everyone,

I am a third year law student who plans on getting my real estate license after taking the Texas bar exam in Febrary 2011. I noticed that Texas lawyers do not have take the real estate school classes to take the real estate license exam, and that you recieve an inactive real estate license. What exactly does this mean, and what can you do with it?

Thanks in advance.
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Old 02-26-2010, 11:40 PM
 
235 posts, read 803,364 times
Reputation: 186
I think you can represent yourself and get the 3% commission. But you can't represent anyone else.
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Old 02-27-2010, 01:09 AM
 
Location: Beautiful Downtown Rancho Cordova, CA
491 posts, read 1,261,828 times
Reputation: 402
Texas lawyers are exempt from the requirements of the Real Estate Licensing Act. The way it works is that you can represent you client and sell a property and get a commission from your client, but you cannot split the commission with a Realtor. See section 1101.651(a) and section 1101.652(b)(11) of the License Act. You also cannot split the commission with a laymen under the rule that you cannot split a fee with laymen. You do not need a real estate license to sell property for your client or for yourself (if you were selling your own property).

I sold property and businesses, etc. from time to time while I was representing clients, but the downside is that I could only split a commission with another lawyer who brought me a buyer and not with a real estate broker who tried to bring me a buyer.

If you want to be able to sell real estate like a broker does and participate in the MLS, etc., you will have to get a Texas Real Estate License.

See this article for more information: http://www.jtexconsumerlaw.com/V7N3pdf/V7N3trela.pdf

Last edited by ElectroPlumber; 02-27-2010 at 01:18 AM..
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Old 02-28-2010, 12:04 AM
 
Location: Morgantown, WV and Charlotte, NC
99 posts, read 293,057 times
Reputation: 101
Thanks for the info. and the link.
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Old 02-28-2010, 05:24 PM
 
Location: Beautiful Downtown Rancho Cordova, CA
491 posts, read 1,261,828 times
Reputation: 402
Quote:
Originally Posted by 1WVULAWGRAD View Post
Thanks for the info. and the link.
You are welcome. Good Luck.
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Old 02-25-2011, 09:32 PM
 
1 posts, read 7,507 times
Reputation: 10
In Texas, can a person with an inactive real estate license hold an open house for another agent?
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Old 02-25-2011, 10:02 PM
 
Location: The Greater Houston Metro Area
9,053 posts, read 17,201,105 times
Reputation: 15226
In order to talk to them about the house - you have to have an active license. Basically, you can stand there and smile - but aren't allowed to even talk about the price, just refer them to the agent. You can have flyers there that states everything. You can really only be there as a warm body.
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Old 02-26-2011, 11:33 AM
 
724 posts, read 1,685,960 times
Reputation: 723
Kind of silly you need a license to show someone a house.
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Old 02-26-2011, 02:46 PM
 
Location: The Greater Houston Metro Area
9,053 posts, read 17,201,105 times
Reputation: 15226
Quote:
Originally Posted by TheEconomist View Post
Kind of silly you need a license to show someone a house.
Blame the state - it's their rule.
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Old 02-26-2011, 11:04 PM
 
724 posts, read 1,685,960 times
Reputation: 723
Quote:
Originally Posted by cheryjohns View Post
Blame the state - it's their rule.
I do. It's not your fault.
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