You are required to have a sponsoring broker so that you can have your real estate license activated. A sponsoring broker will usually have massive experience levels and can help you through mentorship, legal protection, marketing, and name or brand recognition. The traditional method of sponsorship is that the real estate agent will offer services under the sponsoring broker’s company, but a large part of the commission they earn will go to the broker. However, a new and better way has come up which allows real estate agents to build their own brands and keep all of the commission that they earn. Among the benefits that you will achieve from getting unlimited liability company sponsorship as a real estate agent are those given below.
You will be able to build your real estate brand. When you get into this plan, a limited liability company will be formed and a broker’s license obtained for it. The Texas Real Estate Commission usually grants a broker’s license to any entity that has a designated broker. One of the principals of the sponsoring company becomes a sponsoring broker so that the new limited liability company formed is compliant with the licensing requirements. With this provision, you will have your own company to run, which will be under your name, and you can work to build the brand. As you continue growing, you can employ your agents to assist you with your work.
The sponsorship plan will allow you to keep 100% of the commission that you earn when providing services to your clients. What will be required of you is to pay a setup fee so that the company can be established. It may also be required that you pay specific fees for each agent that you get for your company. The charges that you pay for such a company are insignificant compared to the benefits that you get from operating your brand.
The other benefit that you will gain is that of accessing full-service support in the process of running your company. You will be possible for you to access the assistance of experienced brokers of the sponsoring company who will give you the mentorship and guidance that you need to advance your brand and offer adequate services. The sponsoring company will also have an attorney to provide you with legal protection. Thus, not only will you be in a position to build your brand, but you will also access all the support that you need to make this a reality.