Establishing your career as a real estate brokerage requires extensive knowledge of the real estate industry. Brokers are required to stay updated with real estate trends and outlooks. They are also required to have the necessary qualifications and experience to run their own business. If you're looking forward to starting your own brokerage business, then you need to arm yourself with crucial information on how a brokerage business works.
This course will attempt to help learners understand the process of establishing their own brokerage business starting from understanding the pros and cons of starting a business, to choosing a business type, to managing financials, operations, administration, marketing and finally maintaining sustainability. The course caters to learners trying to establish their brokerage business in Texas and so TREC rules about brokers, ethical practices, marketing, hiring and business management is provided in the course for the learner to know and understand.
Upon completion of this course, the student will be able to:
- Know about the pros and cons of being a broker
- Know about TREC requirements to become a broker
- Be aware of latest brokerage outlook and trends
- Understand the importance of initial planning
- Know the advantages and disadvantages of establishing an LLC
- Know how to get your business listed on the internet
- Understanding the brokerage model
- Understand the canons of ethics
- Know about business ethics
- Understand TREC rules and policies
- Understand real estate license law
- Be aware of Texas deceptive trade practices
- Be aware of common lawsuits
- Understand real estate market trends
- Understand inflation and its impact on real estate
- Understand the real estate market and its physical characteristics
- Analyzing the target market
- Analyzing the competition and new business models
- Developing and implementing a business plan
- Important TREC question and answers
- Know about the theories of risk management
- Know about procedures that protects the institution
- Understand oversite transaction and compliance review
- Know about the various methods of loss control
- Understanding the basics of financial components
- Knowing the financial resources to start your business
- Improving on credit score
- Having a planned general operating budget
- Understanding Leasehold and its Conditions
- Understanding Leasehold Estate
- Know of types of leases
- Study the Sample of a commercial lease agreement
- Understand the factors in selecting a facility
- Understand the duties of a facility manager
- Understand how online marketing works
- Avoiding common mistakes of online marketing
- Know how to market properties
- Understanding direct marketing
- Know how to promote effectively
- Know about the ethics of marketing
- Understand what is leadership
- Understand how to manage people
- Know about the Texas Association of Real Estate certifications
- Know how to be an accredited land consultant
- Understand real estate management hierarchy
- Understand property management
- Understand employment relationships
- Know about discrimination and harassment laws
- Know about the American with Disabilities Law
- Know about unemployment and insurance benefits
- Know about compensation structures for Realtors
- Understand the importance of effectively managing employees
- Know about performance management and how to make it work for you
- Understand the importance of orientation programs, trainings and mentorship
- Understand legal implications of employment and termination
- Understand how to train agents and build a referral network
- Understand how to tackle lawsuit challenges
- Know how to manage day to day operations at work
- Understand gross income
- Understand operating expense
- Know how to manage the budget
- Know about TREC requirements
- Understand how to manage your financial reputation
- Understand what is horizontal expansion and its benefits
- Understand what is vertical expansion and its benefits
- Know of ways to grow your real estate business
This course covers the following topics as required by TREC:
- Real Estate Industry
- Starting a Brokerage Business
- Ethical & Legal Business Practices
- Analyzing the Market & the Competition
- Managing Risk
- Financing Your Business
- Negotiating a Commercial Lease
- The Marketing Plan
- Management Style & Structure
- Recruiting & Hiring
- Professional Brokerage Competency & Associate License Holder Productivity
- Evaluating the Business
- Growth Opportunities
Real Estate Brokerage - Texas Real Estate Commission
End of Course Instructions
Upon successfully completing your Texas Real Estate Qualifying course!
To print your Certificate of Completion please go to the "My Courses" section of your profile, and from the "Show" drop-down list select "Completed Courses". Once selected, please click on the "Print Certificate" icon in blue to print your Certificate of Completion.
You may now submit your Certificate of Completion to the Texas Real Estate Commission for processing of credit.
You will be required to pass the lesson quizzes with 100% mastery in order to move forward to the next lesson.
TREC Guideline Update effective September 1, 2017
As of September 1st, new TREC Guidelines require students to take all qualifying exams in the presence of an official proctor. Click here to learn more.
TREC now requires exams to be taken in the presence of a qualified, eligible Proctor to qualify for a certificate of completion.
Please see below for a list of acceptable Proctors:
- An authorized notary
- Employees at official testing or learning/tutoring centers
- Librarians at a school, university, or public library
- College or university administrators, faculty, or academic advisors
- Clergy who are affiliated with a specific temple, synagogue, mosque, or church
- Members of the court system – a Judge, justice of the peace, magistrates, and prosecutors
- Law Enforcement Officers – a sergeant, lieutenant, or captain and
- Educational officers of a military installation or correctional facility.
As set out in Texas Occupations Code §53.025 and TREC Rule 541.1, you may be requested to provide a background check prior to enrolling in Texas real estate courses. If you have any criminal offenses, unpaid judgments, had discipline taken against a professional or occupational license, or have performed unlicensed activity, TREC requires you to consider submitting a completed Moral Character Determination Form before applying for a license.Close
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