Frequently Asked Questions
Under the Individual Sponsorship option (Option 1), How do I receive my commissions?
Since Southwest Realty Advisors, LLC is the sponsoring broker of record who holds your salesperson license, per the State of Texas requirements any commissions earned by the salesperson are paid to the sponsoring broker of record. In order to obtain your commission the quickest way possible, we would ask that you contact us in advance when a commission will be earned and provide the name and contact information of the Title Company where closing/disbursments will take place. We would then contact the Title Company and send a commission disbursement form and ask that they make the commission check out directly to you.
Should the Title Company not allow a disbursment in your name, once we recieve the funds/check we will endorse the check and pass this on to you. 100% of your commission earned, no withholdings. Should the money have been depositied within our operating account, once this clears we will write you a check for 100% of your commission.
Under the Individual Sponsorship option (Option 1), Who is listed as the Listing or Other Broker on the Texas Contracts?
Southwest Realty Advisors, LLC is acting as your sponsoring broker. Any contracts should reflect this.
Under the LLC option (Option 2), who is listed as the Listing or Other Broker on the Texas Contracts?
Your LLC name will be listed as the Listing or Other Broker.
Under the Individual Sponsorship option (Option 1) how are my listing signs displayed?
The Texas Real Estate Commission requires the name of the listing Broker to be displayed on all signs (TRELA 1101.652(b)(23). You can still include your name or DBA and contact information, but must also include Southwest Realty Advisors, LLC (your sponsoring broker) somewhere on the sign. We do provide and allow the use of our signage & logo for Southwest Realty Advisors in various formats (jpeg, png, svg, eps etc.) which can be used how you see fit for your marketing needs. Examples of our signage are as follows: For Sale Sign (SWRA), For Sale Sign (DBA). We will also set up a company email address should you desire being firstname.lastname@example.org.
Is office space provided?
No, your physical office address is determined by you. Many agents may chose to open their own offices or work from home. If you intend to conduct business from an office location where you meet with the public to transact business, TREC requires the broker (Southwest Realty Advisors, LLC) to obtain a Branch Office license for this location. (Rule 535.112). The fee for this application is $20. This applies to Sponsorship Option 1. However, under Sponsorship Option 2 if you intend to open multiple office locations a Branch Office license will also be required. Please notify us if this is the case and provide the appropriate application fees and we will fill out the required forms and submit to TREC.
Why would I need to form a DBA?
This is a personal decision, it basically just gives you another option to brand yourself or your business and differentiate your real estate income/business from personal income. See Below.
What are the advantages to forming a DBA under the Individual Sponsorship option (Option 1)?
What this does is basically allow you to have a separate business name where you can keep monies earned separate from your personal income. With a DBA you can also open a separate business banking account should you desire. If you decide to form a DBA, you must fill out an "Application For an Assumed Name Certificate of Ownership" with the County Clerk within the county you intend to conduct your business. A sample application for Travis County can be found here. Once you have created a DBA please notify us of your business name for our records. Once formed this will then allow you to use your DBA on your marketing materials etc. It should be noted however, TREC stil requires the Broker's name to be included somewhere on your marketing materials although your DBA can however be the prominent name.
How long am I obligated to stay sponsored?
What if my local Board of Realtors requires my sponsoring Broker to be a member so I can retain use of MLS services etc.?
Our company is always looking to expand into new markets within the State of Texas. We are currently members of the "Austin Board of Realtors", "Houston Association of Realtors", "MetroTex Association of Realtors", "Greater Metro West Association of Realtors", "North Texas Commercial Association of Realtors", "Ft. Hood Area Association of Realtors", "Temple-Belton Board of Realtors", "Amarillo Association of Realtors" , "San Antonio Board of Realtors", "Greater McAllen Association of Realtors", Stephenville Association of Realtors", "Greater El Paso Association of Realtors" and the "Odessa Board of Realtors". If we are not currently a member of your local Board of Realtors we will explore the feasibility of joining at your request.
If I already have an LLC formed and a sponsoring Broker acting as the designated officer for my LLC, what is the procedure to transfer Brokers?
For any other questions or concerns feel free to contact us via email or phone. We'll be happy to answer any questions you may have.
Under the LLC option (Option 2) how are my listing signs displayed?
Your LLC name can be displayed on all signage and marketing material since your LLC name will be your "sponsoring broker" of record. We act as the individual sponsor and identified as the designated office on the TREC application and you are the owner and manager of the LLC. You can choose to create your own logo and brand your own business as you see fit for your marketing needs. A signage example is as follows: For Sale Sign (LLC).
Is Errors & Ommissions Insurance provided?
Yes and No. We do carry our own E & O Insurance which is a blanket coverage based on total company revenues and applies to those agents falling under sponsorship Option 1, who are working under/sponsored by our LLC, Southwest Realty Advisors. Those agents who choose to form their own company/LLC under Option 2, are not covered under our policy. In this scenario you would have to provide your own E & O insurance policy to obtain a Brokers License.
Can I take my LLC name with me should I no longer be sponsored.
Yes, your LLC is your company. You can do as you like with it.
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