Activities Requiring an Active Real Estate License and Exemptions from an Active License in Texas

In the State of Texas, to perform real estate activities on another’s behalf for an actual or expected commission or any other valuable consideration, one must possess an active real estate license.

The activities, which come under this category, are motioned below.

1) Selling, purchasing, exchanging or leasing the properties of real estate

2) Negotiating or attempting to negotiate the listing, exchange, sale, buying, or leasing of real estate properties

3) Listing, attempting, or agreeing to list real estate for sale or exchange

4) Auctioning, offering, attempting, or agreeing to auction real estate

5) Buying, selling, or offering to buy or sell, or otherwise dealing in real estate, including giving a lease to purchase

6) Aiding, attempting, or offering to help in locating real estate for purchase or giving to lease

7) Procuring or assisting in procuring properties for dealing with an exchange, selling, or leasing real estate

8) Selling, buying, leasing, or transferring an easement to utilize the connection with the railroad, or other services

9) Control the acceptance of rent from a tenant of a single family

10) Providing analysis, or conclusion on the price of real estate property as long as:

  • Not referred to as an appraisal
  • Provided in the ordinary course of any person’s business
  • Related to the actual management, disposition, encumbrance or acquisition of an interest in real property

11) Advising or offering advice to the property owner concerning the negotiation of the sale
An active real estate license is required for anyone who charges or collects a fine under a contract to promote the sale of real estate.

Further, certain people and professions do not require an active real estate license.

The licensing act exempts:

  • An attorney at law licensed in Texas
  • A person who is under a duly executed power of lawyer when authorized to conduct more than three real estate transactions annually
  • A government official in the conduct of official duties
  • A person calling the sale of real estate by authority provided the person does not perform any other act of a real estate broker or sales agent as defined by the act
  • A person who is conducting a real estate transaction under law or court order or under the authority of any will
  • A person employed by an owner to sell both the building and the land
  • An on-site manager of a building complex
  • An owner who leases his/her improved or unimproved real estate
  • Transactions involving the lease of property, sale or transfer of cemetery lots
  • Transactions involving the management or lease of any hotel property or motel property
  • Transactions involving the sale, transfer, or mining of a mineral in real estate
  • The sale of real estate property under a power of sale conferred by a deed of trust

There is no need for a real estate license for a person or firm engaged solely in the following activities:

  • Constructing, repairing or remodeling a house or any other building
  • Promoting, sponsoring, managing as a partner, principal, or financial manager of a real estate investment
  • Entering into an obligation to pay another person who is already secured by an interest in real estate property

The real estate act raises many questions about specific activities or individuals that require a license or are exempt.

To give clear information on these issues, the real estate commission has designed rules and regulations in the code.

Anyone seeking an active real estate license must check that their activity fulfills the state’s commission requirements.

How Could Product’s Law and Liability Affect Your Small Business?

Staying in business is one good reason why your business needs products liability insurance coverage. If you are sued, you could lose everything, and it might not even be something your company produced!

Product liability insurance is needed for all types of businesses, even if they are just a middleman.

If a product you sell is involved in an accident that causes bodily injury or property damage, the lawyers look at everything that could possibly be a cause of that accident. Product defects and product failures are two main sources of personal injury and property damage that result in people suing the company that made or sold that product. If a product that is part of something that you sell fails, you are still liable for the proper functioning of that piece of equipment, even if you bought it from someone else.

Product liability insurance protects your company in the event of a lawsuit arising from product defects and liability. This includes the production of the product, product design flaws, and everything else including having protective safety labeling on the product. If you neglect to put a label advising of possible danger or proper use of the product, you can be held liable. Even with labeling, you may be part of a product failure lawsuit.

For best protection, and to stay in business, be sure you have adequate product liability coverage. Many general insurance policies include some product liability coverage. Be sure you have enough coverage for all you do. If you are a distributor, a refurbisher, or seller of products, you need this type of insurance. Some accidents are not your company’s fault, but you can still be in the legal line of fire if you have anything to do with the faulty product.

Product liability insurance is something that is highly recommended for business owners to acquire as they begin in the business world.

It’s important to make sure that your business is covered and protected against lawsuits and other potentially damaging circumstances… but what is product liability, and why does a business need insurance against it?

At it’s core definition, product liability is the legal responsibility of manufacturers and vendors to provide compensation to purchasers, users, and sometimes even bystanders who were injured or suffered damages due do a defect or defects in the product or goods that were purchased.

Although most of the time the ultimate liability rests on the manufacturer for defects in products sold, responsibility to compensate can also fall on the retailer, and occasionally on other entities like wholesalers, middlemen, or even certifiers.

Most of the time compensation is required when a person files a lawsuit because of damages or injuries sustained because of a defective product. The lawsuit is ordinarily directed at the manufacturer, but could also be directed to the retailer.

And then, depending on the outcome of the lawsuit, a judgment can be awarded and the manufacturer or supplier or other party deemed to be responsible must pay. When there are implications of defective products on business operations, this is where product liability insurance comes into play.

Product liability insurance protects manufacturers and suppliers on the occasions of claims being made for damages incurred or injuries received while using their products or goods. Be sure you are adequately insured!

Product Liability Insurance: What Does It Cover?

Coverage called product liability insurance is one of the few insurance covers that are considered to be most vital in the commercial sector. This insurance product was specifically designed to target manufacturers, distributors and all related traders of fast moving consumer goods. This insurance cover is vital for the above-stated business fraternity due to the fact that it is designed to protect them and their business.

Product liability insurance coverage is designed to protect the manufacturer, distributor and all related traders from taking liability for damages caused by the use of a dealership product. In the event that a manufacturer or distributor or any related trader of a product is sued by a consumer of in court and is forced to meet the liability to pay for the damages caused, the insurer covers the payment on behalf of the above-stated client.

This cover guarantees the commercial traders against incurring any financial handicap in the event that the above situation occurs.

This kind of situation is likely to lead a commercial trader into turmoil, especially if the lawsuit demands that the consumer is paid a large sum of money. Such kind of a situation is likely to negatively affect the cash flow of the business and may lead to losses of the financial crisis. But if the commercial trader had taken up Product Liability Insurance cover, there will be no need to worry. The commercial trader will just be on business as usual as the insurer settles the matter with the authorities and the suing consumer.

All the business owners, entrepreneurs, and manufacturers may all need liability insurance to protect themselves and their business from the financial disaster of potential lawsuits.

Liability Insurance Protection in Three Areas:

1. To cover injuries caused by a product that malfunctioned, faulty, or even a defect. If someone is injured properly using an item sold by a business, the injured person could sue. Good product liability insurance protects the business from this type of lawsuit.

2. If the item sold has a faulty design, both the manufacturer and the seller of this item can be sued if there is damage such as fire, or personal injury.

3. A product is used improperly or in a way that it is not intended, and does not have a disclaimer for this kind of use or abuse of the item. If this item causes injury or damage, the seller can be sued for lacking the proper warnings.

Courts have determined that both the seller and the manufacture are liable for injuries and damage caused by items sold from a business. Liability Insurance protects you personally, and the welfare of your business from potential lawsuits and financial disaster.

Protect Your Business: Get Product Liability Insurance Coverage to Avoid the Risks!

Business risks are capable of easily destroying any type of business within a very short period. One of such risks is the product liability. This risk can have a very great impact on businesses, especially small business. Therefore, in order to ensure that your business is efficiently protected, it is important to get a product liability insurance coverage for the risk.

A lot of business owners do not see the importance of getting product liability insurance coverage because they feel their business does not need it. This is probably because they are under the impression that it is only for businesses involved in manufacturing or packaging products.

Unfortunately, they are wrong because product liability concerns manufacturers and dealers alike. Anyone in such business can be dragged to court at any time by customers with claims of purchasing or using certain products, which have caused them harm.

Therefore, in order to protect your business from lawsuits with regards to manufacturing, importing or selling of products, take the appropriate measures early enough.

It is cheaper to spend quality time and money to get the best product liability insurance coverage for the risks that your business entails, then to wait until when the risks cause financial damage to your business.

Did you know that product liability could cost you your business? Take a bold step today and get a product liability insurance coverage for all the risks that are likely to cripple your business in the future.

Product Liability Insurance Could Be Crucial to a Product Installer Importer or Distributor

As a product installer, product distributor or an installer, having a small business of your own and creating a product that you sell can be an ideal way to earn a living.

Though you have confidence in your newly developed product, you also need to take into consideration that when you sell a product to others, you open a door to potential product liability issues as others can use your product incorrectly and get hurt, have a bad experience with your product, or you could have simply overlooked a product flaw.

You need to protect yourself financially from such issues by making sure to have an adequate product liability insurance policy always, in effect, and active before you sell your first item. Most people just ignore getting a product liability insurance policy but it could save your business someday.

How to Select the Best Product Liability Insurance Package?

When it comes to insurance products, especially product liability coverage, there are no general specifications that can be used to choose. Businesses have their own uniqueness and circumstances, while some produce goods that may generally generate more public attention, others produce more rugged products that are less scrutinized.

Manufacturing companies, therefore, need different insurance products that will be able to protect them against liabilities that may occur from manufacturing flaws, untested products, wrongly tagged product warning labels etc.

It is therefore important to take a number of things into proper consideration before choosing particular product liability insurance or even choosing an insurance company.

Some of the things to check before choosing an insurance product are listed below:
  • Be clear about what the insurance product entails.
  • Most individuals and businesses are usually confused about the details of a particular insurance product; this is mostly because they have succumbed to the smooth talks of insurance agents who are out to sell insurance products by the numbers.
  • When it comes to product liability insurance, most people get it confused with public liability insurance. While product liability insurance protects a business and its owner from any liabilities that may arise out of the use of their products, public liability insurance on the other hand only protects you from the liabilities that may occur when a customer or his properties get damaged while on the premises of the business. Although both of these insurance products are important, some businesses, however, buy one in thinking they have bought the other. Getting a comprehensive insurance that caters for both will actually reduce your cost.

Product liability insurance should be thought of as something very essential for all sorts of businesses, whether large-scale or small-scale until they deal with the exchange of goods.

Insurance policy protects the owner from heavy compensations and also makes sure the savings are not affected as well.

If you are in search of a reasonable Insurance Policy, there are a couple of things that need to be thought about. Being in such sort of business means endangered by different accountability issues for which the Insurance Policy should have enough to offer.

There are two ways of choosing an Insurance Plan:

Firstly, take the expertise of a lawyer or an insurance broker who will analyze things according to the need of your business, keeping in mind all legal matters. Secondly, you can go on looking for a perfect plan by yourself.

Second, to the selection of insurance policy is thinking about the plan that will give you a most needed helping hand. Since there is a lot an insurance policy can offer you. It is you who have to decide on a well-fitted plan.

In order to prevent any unfortunate event, you got to take our quality time to make a wise decision with regards to an insurance plan. A well- versed person can be a great asset to you in this matter.

Real Estate School: Imparting Property Education

The real estate market has registered a rise irrespective of crisis scenarios, such as recession and inflation. When planning to invest your bankroll into realty, professional guidance from a qualified real estate agent is vital. To become an efficient service-provider of the sector, one needs to possess a license to substantiate their specialization in the trade.

Here the significance of real estate schools become vital where certified courses are offered to students.

When one is looking to join an institute from a career perspective, for real estate license and training, there are three grounds which should be considered, while choosing the right kind of course:

• Quality:

Institutes such as CELI Texas Real Estate School which, are accredited to Texas Real Estate Commission, offer courses for both license renewal and pre-licensing necessities. For candidates, the program you are about to pursue should be informative and suitable for your previous education. Several learning opportunities for a salesperson in annual and pre-licensing courses are generally offered. All you have to do is select an appropriate standard for yourself.

• Objective:

This should be focused on your ultimate area of interest, as there are a variety of topics which include law, administration, leasing, etc. One can gain specialization with thorough training and complete understanding of the desired subjects.

• Worth:

Cost is a major factor that cannot be ignored. Ensure sufficient availability of resources to accomplish your study without hindrances. One thing you can do is to compare the course charges at different places and select the one that fits well into your pocket as well as requirements; at the same time quality should not be compromised with.

Apart from the above, a variety of teaching modes are also there such as online and correspondence courses. In order to save time and comfortable studying environment, online real estate course can be chosen.

If you want quality brushing-up of your basics related to property matters, then these schools are the best choice to get yourself on the right career track.

Product Liability Insurance – A Business Owner’s Friend

In this highly litigious society where court cases are getting more common than flu, more and more insurance companies are realizing the need to churn out more insurance products that will offer coverage against product liabilities, which is one of the most common lawsuits against corporate organizations.

Product liability insurance is a type of insurance that protects businesses and its proprietors from any type of claims that may arise out of the sale or manufacture of any type of products, which include food, medicines, and tech products, among other things.

There are several types of product liability – if a company that manufactures does not test its product to ensure that it is safe for consumption such as company may be liable in the event for any mishap that arises from the use of the product. Because of this, product liability issue is one of the most feared issues by business execs, as it usually involves a lot of consumers across the world which can result in a class-action suit.

In order to buy a good product liability insurance for your business, there are things you should look out for, and some of these include:

  • Get quotes: It is important to get as many insurance quotes that take your business considerations to mind as much as possible. This will give you an array of options from which you can then liaise with your attorney to choose from.
  • Get an insurance adviser: As a big business or even small manufacturer you will need the services of an insurance adviser in order to calculate your premium on any insurance products that you are interested in. This is important because you have to determine with your attorney and advisers if your business is able to pay such premiums for a long time.

When it comes to insurance, most business owners don’t want to deal with the hassle of trying to find out what kind of business liability policy they need, how much coverage to get, and what the steps are to getting the policy.

However, product liability insurance could be something that a business owner is very thankful they spent the time setting up if something were indeed to come up… product liability insurance covers the financial expenses associated with lawsuits from people who have been injured or have had property damaged because of something that went wrong with a product they bought & used.

Legally, people who have suffered from the use of a product have the right to find out who each company is that had a hand in releasing the product to the market, including the manufacturer, distributor, refurbishor, middlemen, and retailer. That means each of those companies are at risk for being sued.

As you can see, it’s in a business owner’s best interest to research and set up product liability insurance if they have anything to do at all with a product distribution cycle.

Does Your Company Need Product Liability Insurance Coverage?

If you are starting a new company that sells or distributes products you may be wondering if you need product insurance to cover any liability claims. No one really ever thinks of business and insurance as a fascinating subject, but the truth which is hidden in it is that there are so many other goods and many interesting things considered. First, there are many types of business insurance and it has some different kinds. The general liability insurance is the most common form and type of business insurance business which have got today. Mostly because it covers the board range of that can come in front of us at any time.

General liability insurance also covers some of the different types of level of product liability this is called product liability insurance a type of insurance that is very important if you are selling a product that could attract claims to your business.

Further, You may believe your business free from the risk of being sued due to the harm caused by your goods; simply because you are into the retail business and not manufacturing. After all, you don’t make the goods, you simply distribute them; how can you possibly be held accountable for defective products? Such an assumption would be a grave error on your part. The risk might be relatively minimal but it’s present all the same because no matter how hard one tries, some “ unforeseen” simply cannot be avoided. You, like the manufacturer, bear the responsibility of a duty of care to the customer. Hence, contrary to what you might think, you are not immune to damage or liability claims being leveled against you as well. It is therefore in your best interest to follow suit and get product liability insurance coverage for these risks.

Under the law, in fact, retailers are just as liable as manufacturers or suppliers. Getting product liability insurance coverage can help to protect you, the retailer, from the risk of losing a lot of money in damage or liability suits in court.

Retailers especially need product liability insurance coverage where they, by virtue of plain bad luck, stand the risk of being unfortunate scapegoats.

It so happens that it is very well within consumers’ rights to simply go after whoever is easier to get to. The retailer becomes easy prey when the manufacturers are too far; as is usually the case with imported goods.

How to Choose the Best Real Estate School to Obtain a Salesperson License

The real estate courses, i.e. pre-license and post-license courses, are offered by many universities, colleges, and commission-approved real estate schools.

Local realtor associations and boards may also offer courses that meet the commission requirements, but they need to get permission first from the commission to offer the qualifying course.

Qualifying education providers such as and others may be found on the TREC website. These educational providers are categorized based on their performance, i.e. first-time pass percentages.

The average of each education providers first time pass rate for the last two years is compared to the over-all first time pass rate of all the students who took the exam during the same period, and is calculated monthly.

Depending on the pass percentage, the real estate schools are divided into 3 types:

1) Real estate schools with a first-time pass percentage of 80% or more of the average overall first-time pass percentage.

2) Real estate schools with a first time pass percentage between 50% and 79% of the average overall first-time pass percentage.

3) Real estate schools with a first time pass percentage below 50% of the average overall first-time pass percentage.

Commission education credit evaluation

To be acceptable by the commission, qualifying courses are suggested to be completed at the following types of schools:

  • College or university accredited by the appropriate regional governing body.
  • Professional trade association or real estate provider approved by the commission.
  • State associations of realtors.
  • Military or any other government organizations or other licensing agencies.

Verification of education requirements

When an applicant applies for an inactive sales agent license, there is no need to meet all the education requirements. Only a copy of the applicants transcripts and certifications should be sent along with the application.

The applicant can file the proof of completing the remaining required qualifying courses at a later date. The applicant has one year from the time the application is filed to complete the coursework and pass the exam.

Application Process

At any step in the process, the applicant must file an application with the commission for an inactive sales agent license in the prescribed form. A printable copy can be found on the website.

The application form can be submitted electronically to the commission or on a hard copy through the regular mail; this method may incur an additional $20 paper-filing fee.

Ways to Become a Successful Realtor

Today, people rarely have time for searching for real estate on their own. They are ready to pay realtors and choose what they need among several offers.

Being a realtor offers a relatively free schedule, good salary, and great career opportunities.

Now, this profession is becoming one of the most popular, demanded and interesting. This is a great option for energetic, active people who can plan their working time in a rational way. This profession is very popular among young people of 25-35 years: these people want to work and to earn. We can often see announcements about the need for realtors. Almost always, newcomers do not need any special skills.

In the process of working, they are able to learn everything they need, and when agencies see a good staff, they offer trainees passing special courses. It means that those who manage to show their smartness, talents, and skills can obtain a needed Texas real estate license online courses, etc. and start working as a licensed real estate agent.

Studying the Market

To begin with, it is necessary to study the real estate market of a certain locality. A good realtor needs to know which types of real estate are the most popular in this region, how high or how low the prices are and what factors influence their changes.

A realtor cannot work properly without knowing the law that regulates the real estate market in this region. Those people who come to work in real estate agencies can learn all this from their more experienced colleagues. Yet, it is a more complicated task for those who work on their own. They need to look this information up on the web, in special newspapers or magazines.

Composing Databases

All real estate agents have databases of their potential clients. Agencies have their own databases available for realtors and used by them in the majority of cases.

In case a realtor needs to create such a database independently, there are several ways.

  • The first way is to get in touch with all those people who have posted their real estate advertisements in newspapers.
  • The second way is to post an advertisement about a realtors services.
  • The third way is to print a lot of name cards and ask friends and relatives to help in spreading them among their relations.

The best result will be achieved by these three ways put together.

Knowing the Competitors

The database of potential and active clients should be accompanied by a database of competitors. Having created such a list, Texas realtors will see who post advertisements in newspapers: agencies or people. This will save a lot of time because dealing with other agencies and intermediaries is senseless. Apart from that, an advantage of working in an agency is in having lists of unfair competitors who are well-known by experienced professionals. Newcomers should be very careful not to trust them.

Gaining informations and knowledge about how to get your real estate license so you can become an agent or broker is very important. Even though that you have the capital to start buying real estate, it is still very important that you have to gain knowledge and strategies to succeed in it.

If you’re thinking, you need to get educated on real estate and learn about the laws and how to get licensed, there are actually many ways to learn. Reading books about real estate is helpful in the first stages. Surfing the Internet is another way to learn since there are heaps of sites that offer tips, guidelines about real estate.

One of the keys to becoming a successful real estate salesperson is getting educated from an online real estate school that can get you licensed.

Each time you educate yourself, you’ll learn more about how to succeed in the real estate business, and this will then give you ideas about how to do it even more profitable the next time.