How many years active experience as a salesperson do you need to qualify to become a broker?

You need FOUR years of active working experience as a Texas real-estate salesperson (licensee) to qualify to become a Texas real-estate broker.

What is TRELA?

In Texas Real Estate, TRELA stands for Texas Real Estate Licensing Act.

TRELA is the law governing Texas real estate transactions, Texas real estate professionals (sales person / broker). TRELA is enforced by TREC (Texas Real Estate Commission)

How much actual transactional experience points are required to become a Texas Real Estate Broker?

Qualifying active transactional experience must total 3600 points to become a Texas Real Estate Broker.

Licensee wrong doing in Texas is considered a Class A misdemeanor which means?

Class A misdeameanor in Texas = $4000 fine and up to 1 year in jail.

What is a bridge loan?

A bridge loan is a special type of loan for current home owner who needs to switch / move home while needing to use equity in current home to be applied to new home.

Millions of home owners move every year.  And most have this scenario where they are currently already in a mortgage, and in order to buy another house they need to use their equity from current house for their next house.

But the problem is how to sell and buy with good timing? This is called the chicken-and-egg problem.

This is when bridge loan can help. Owner can apply for a bridge loan where the current house equity will be mortgaged for next home's down payment.

The risk associated with any move are plenty. However the first question the home owner should consider is whether he/she is more comfortable risking paying double mortgage while waiting for the previous house is still on sale, or selling the current house first before finding a new house.