BROKER'S BUSINESS

WHAT IS A BROKER?

A person who acts as an intermediary between sellers and buyers of real estate/real property and attempts to find sellers who wish to sell and buyers who wish to buy. In the United States, the relationship was originally established by reference to the English common law of agency, with the broker having a fiduciary relationship with his clients.

MY RESPONSIBILITIES

Ensuring all licensees are accurate on the roster with the association
It is your responsibility to ensure that you are monitoring the licensees in your office regularly.  Make sure their license is current by checking at this site.
 
If you are not current with this task you may be charged REALTOR® dues and MLS Fees for licensees that are no longer under your supervision. If these items do not get paid you are subject to being deactivated as a REALTOR® and in the MLS.  This would result in your entire office being unable to practice.

NAR DUES FORMULA – How you are charged

Your dues obligation as “designated” REALTOR® of your firm relates directly to the size of your real estate firm i.e., the number of individuals licensed with your firm. However, your dues obligation is fully credited with respect to any individual licensed with you who holds membership in an Association of REALTORS®. Consequently, the variable portion of your dues as the “designated” REALTOR® is computed only upon the number of individuals licensed with you who do not hold membership.
 
Your payment of association dues and your membership in good standing in the association ensures that you will automatically be deemed a member in good standing in the Texas Association of REALTORS, and the National Association of REALTORS upon the association’s payment of dues to those two organizations.
 
Licensees affiliated with a separate entity owned by the “designated” REALTOR® which is exclusively engaged in soliciting and/or referring clients and customers to the REALTOR®  for consideration on a substantially exclusive basis are excluded from the “size formula” dues obligation of the “designated” REALTOR®.
 
The enclosed LFRO Certification Form may be used to identify such licensees.
 
LIMITED FUNCTION REFERRAL OFFICE (LFRO)
To be considered for a LFRO office you must complete the attached form and submit accordingly. PDF HERE.

BROKER INVOLVEMENT PROGRAM

NAR's Broker Involvement Program empowers broker owners to alert their agents to key REALTOR® issues. When brokers speak, agents listen and respond. By urging REALTORS® to respond to NAR's Calls for Action, we can shine a bright light in Congress on important real estate issues. The more agents that take action, the more Congress will know the voice of the REALTOR®Party and will respond to our industry's needs.

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