Texas Real Estate License Act Terms

Broker

A person who, for a commission or other valuable consideration, performs specific real estate-related acts for another person; these acts include but are not limited to helping someone in the selling, exchanging, buying, leasing, auctioning, and/or listin

Business entity

Either a domestic entity or a foreign entity.

Certificate holder

A person registered as a real estate certificate holder in Texas may buy, sell, lease,
or transfer an easement or right-of-way for
another; not the same as a real estate license holder.

The commission

The Texas Real Estate Commission; also known as TREC.

License holder

A broker or sales agent licensed under The Texas Real Estate License Act.

Real estate

Any interest in real property, including a leasehold located in or outside of Texas.

Residential rental locator

A person who offers to locate a unit in an apartment complex for lease to a prospective tenant for consideration.

Sales agent

A person who is associated with a licensed broker for the purpose of performing an act for which a real estate license is required.

Sub-agent

A license holder who represents a principal through cooperation with and the consent of a broker representing the principal, and who is not sponsored by or associated with the principal's broker.

Party

A prospective buyer, seller, landlord, or tenant, or the authorized representative of any of those parties; does not include license holder representing a party in the transaction.

Intermediary

A broker who is employed to negotiate a transaction between the parties of a transaction, and for that purpose, may act as the agent of those parties.