This office lease provision states that the landlord and tenant each warrant and represent to the other party that there was no broker, finder or similar person, other than those listed, entitled to a commission, fee or other compensation, instrumental in consummating the lease. It also states that no conversations or prior negotiations were had by the landlord or tenant, respectively, or anyone acting on behalf of the landlord or the tenant, respectively, with any broker, finder or similar person, other than those listed, concerning the renting of the demised premises.
Texas Lease Provisions Relating to Brokers
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US-OL29A07
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FAQ
Section 1101.366 - Inactive License: Broker (a) The commission may place on inactive status the license of a broker if the broker: (1) is not acting as a broker; (2) is not sponsoring a sales agent; and (3) submits a written application to the commission before the expiration date of the broker's license.
Today, the Texas Real Estate License Act is part of Chapters 1101 of the Texas Occupations Code, and regulates real estate brokers and salespersons. In case you're curious, Chapter 1102 pertains to real estate inspectors.
Section 535.1(e) of the Rules provides "The Real Estate License Act permits Texas-licensed brokers to cooperate with and share earned commission with persons licensed as brokers by other states, but all negotiations within Texas must be handled by Texas licensees."
A Broker Agreement, also known as a Finder's Fee Agreement or a Referral Agreement, sets forth the terms and conditions under which a Broker will either find goods and/or services for a Buyer to purchase or interested buyers for goods and/or services being sold by a Seller.
Sales agent apprentice education (SAE). When a broker-level license holder moves from another state to Texas, can that broker become a broker in Texas? Yes, the new-to-the-state broker may become a Texas broker if the originating state has education requirements comparable with Texas requirements. a broker.
Answer: No. Texas does not have reciprocity with any state. To become licensed, you must satisfy all current Texas licensing requirements.
Steps to Become a Real Estate Broker in Texas Complete 270 Hours of Pre-License Education. You must complete 270 credit hours of pre-licensing education. ... Meet the Experience Requirements. ... Apply to Become a Texas Real Estate Broker. ... Pass a Background Check. ... Pass the Texas Real Estate Broker Exam.
Section 14(a) of the Act provides that it is unlawful for a broker to compensate a person for performing an act as a real estate broker if the person is not a licensed broker or licensed salesman in this state.
OCCUPATIONS CODE CHAPTER 1101. REAL ESTATE BROKERS AND SALES AGENTS.
Chapter 1101 of the Texas Occupations Code is the Real Estate License Act, also known as TRELA.
