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Updated about 6 years ago on . Most recent reply

User Stats

306
Posts
68
Votes
Joseph Pytcher
  • Lender
  • Plano, TX
68
Votes |
306
Posts

Question Regarding Unlicensed Employee TX

Joseph Pytcher
  • Lender
  • Plano, TX
Posted

I own a real estate investment company here in Dallas (we flip single family properties) and I have a full time W2 employee that acts as an acquisitions manager that finds deals through wholesalers however he is unlicensed but I am licensed. Does anyone know the rule on calling wholesalers directly for deals if you don't have a license even though he is a W2 employee? He is finding properties for myself to buy, not for someone else. Just need clarification on this rule. 

Reason why I ask is because this is done extremely often in our business. Wholesalers cold call sellers directly to negotiate contracts and buy/assign deals without a real estate license all the time however the state of Texas requires a license for any type of solicitation.

Any legal work around that I am missing so I am compliant on this issue? Last thing I want to do is not be in compliance with TREC so I want to make sure we're good. 

Thanks,

Joseph

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