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State Bill 747 (SB747) was passed in the Texas congress with changes effective September 1 Liverpool Jersey , 2011. Several of these changes deal specifically with the duties of a real estate brokerage. The bill now defines the Texas state law as requiring a license for anyone who controls the receipt and deposit of rent from single-family residential or properties under four units. If you, as landlord, hire a property manager or real estate agency to control and maintain your properties, the agency must employ a broker that is licensed by the Texas Real Estate Commission.
Finding a Broker:
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If you are concerned about finding a legitimate broker you can contact the Texas Real Estate Commission (TREC). This is the state鈥檚 official real estate committee that keeps a database of updated laws, licensing requirements and list active brokerage companies in the state of Texas. The broker you choose will be largely responsible for your principle earnings (rent) and you want to make sure it is a brokercompany that you trust. The SB 747 defines a broker as anyone who is licensed by Texas and performs the following duties for the landlord:
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Licensed Brokerages are subject to oversight and requirements to obtain their licenses, and this provides the owners of property in Texas comfort that their rentals have regulation. Additionally, this also means that real estate agents cannot manage property without it being involved through the brokerage. If your agent is not managing the property with the money being subject to the supervision of the broker Inter Milan Jersey , then the real estate agent is also in violation of this provision.