Real Estate Agent · Amarillo, TX · Member since 2014 · 4 posts · 0 votes
I own an LLC that deals in renting, flipping, and note carrying. I just got my real estate license in Texas and now work under a different brokerage firm. Legally, I understand that I cannot misrepresent my company as a brokerage firm and I must inform any new prospects that I am an agent. However, I am confused on legal advertising and marketing. Because I have a company of my own I would like to use that name whenever possible.
What are my options as far as using my company name in advertising? (sale signs, business cards, etc...)
Can agents have their own firms? Do I need to register with TREC?
May I still use my company signs when renting property?
Real Estate Professional · West Palm Beach, FL · Member since 2012 · 23k+ posts · 13k+ votes
11y
Your LLC can buy, sell, rent properties that it owns. It can't rent/manage properties for others since it is not a licensed brokerage. If your LLC lists the properties with your broker, then you'd be working in your capacity as an agent, but revealing your ownership interest as a licensee. Otherwise no, you couldn't use your broker's signs for your LLC properties. This is basic stuff you should have learned.
Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes
11y
If you are the majority owner or significant owner (some states put that at 10% or more) you're required to disclose on any advertising dealing in real estate, buying notes is not real estate, lending is not real estate but seller financing your property is real estate.
You need to ask TREC about registering your LLC, since it is not a RE Brokerage you may not need to, but your dealing in RE behind the veil of any corporate entity is still you behind the door, you can't hide.
I'd think that you had to answer questions on your exam to get a license as to agents having their own RE company, no, you need to be a broker, you can have a separate company under your broker or holdings that are not placed for sale through the brokerage, but your broker may have issues with that. I suggest you just call TREC and speak to your broker. Your broker can have liability for anything you do in RE, so they do have the right to oversee any private deal, generally. :)
Real Estate Professional · West Palm Beach, FL · Member since 2012 · 23k+ posts · 13k+ votes
11y
Your LLC can buy, sell, rent properties that it owns. It can't rent/manage properties for others since it is not a licensed brokerage. If your LLC lists the properties with your broker, then you'd be working in your capacity as an agent, but revealing your ownership interest as a licensee. Otherwise no, you couldn't use your broker's signs for your LLC properties. This is basic stuff you should have learned.
Involved In Real Estate · Houston, TX · Member since 2014 · 39 posts · 9 votes
11y
I ran into to this same problem. Although, I don't have my own company as you do. I too am interesting in building my own brand so that in the future if I choose a different firm or perhaps start my own brokerage, my clients will recognize my brand name regardless. Keep up posted on your progress and good luck!
No need to make the guy feel like a loser for asking a question. I think we are all here in the pursuit of a better understanding of things no? I'm sure there are other forums on BP where you may lack some knowledge, and I would hope someone who had more knowledge doesn't come to your post to both answer your question and make you feel like an idiot all at the same time lol. Have a Happy New Year! :)
I ran into to this same problem. Although, I don't have my own company as you do. I too am interesting in building my own brand so that in the future if I choose a different firm or perhaps start my own brokerage, my clients will recognize my brand name regardless. Keep up posted on your progress and good luck!
And, you'll need a broker's license, you would be a Broker-Agent under the managing broker of the real estate company that holds you license. Then you can say you're the "Gamble Team" at XYZ Realtors. Most agents brand themselves personally.
I'm sure you had that in RE school, laws of agency and the relationships of agents and brokers, but being human we forget. Wayne's comment wasn't that out of place really, hang around, it gets heavier than that..... LOL :)