Updated Requirements for Getting Your Broker’s License
The process to apply for your Texas broker’s license is easier to understand thanks to a recent rule change.
Confusion stemming from the point system for earning a broker’s license is one reason why TREC’s Broker Responsibility Working Group recommended updates to Rule 535.56, Education and Experience Requirements for a Broker License. The Commission adopted the rule changes during its February meeting and the revised rule went into effect March 2022.
Overall, the changes are intended to clarify and streamline the application process for obtaining a broker’s license.
A Simpler Point System
You won’t need a calculator to track your points. The revised rule changes all point values for qualifying practical experience, so they are easier for you to add up. For example, a closed residential purchase or sale is now worth 30 points per transaction instead of 300. As a result, the total number of points required is now 360 instead of 3,600. Although the point values have changed, the requirements to obtain a broker’s license remain substantially the same.
Number of Transactions Per Year
The revised rule also clarifies the requirement that an applicant must have performed at least one transaction per year for at least four of the five years preceding the date the application is filed. The revision does not change the number of transactions required and is not a reduction in the experience requirements to obtain a broker’s license.
Additional Opportunities to Earn Points
The revised rule increases the opportunity for agents to count brokerage team management and delegated supervision by eliminating the previous maximum number of points that could be counted under that category.
Low-Point-Value Categories Removed
The revised rule removes the low-point-value categories of Exclusive Right to Sell Listings, Buyer and Tenant Representation Agreements, and Listings.
Source: Texas Real Estate Commission