Here are some common questions about the Austin real estate market and real estate in general.

Requirements for a License

• Citizen of the United States or lawfully admitted alien
• 18 years of age or older
• Meet TREC’s qualifications for honesty, trustworthiness, and integrity
  • Consider requesting a Fitness Determination before applying for the license

​180 classroom hours of the following qualifying real estate courses:

• Principles of Real Estate I (30 classroom hours)
• Principles of Real Estate II (30 classroom hours)
• Law of Agency (30 classroom hours)
• Law of Contracts (30 classroom hours)
• Promulgated Contract Forms (30 classroom hours)
• Real Estate Finance (30 classroom hours)

Find a qualifying education provider. Submit your course completion documents to TREC after applying online or with your paper application. After completing your course work, you are welcome to submit a course and instructor evaluation. 

If you completed any of the above qualifying real estate courses through an accredited college/university for academic credit, submit a transcript for evaluation.

REALTORS® typically get paid based on a percentage commission on the final sales price.

 The standard commission for residential real estate transactions is 6%, of which 3% goes to the buyer’s brokerage and 3% goes to the seller’s brokerage. Each agent has its own commission structure in place with their brokerage.

When a listing is listed as contingent, that means that the seller has accepted an offer that has a contingency. The most common contingency in residential real estate is a contingency on the sale of real property.

When a listing is listed as pending, it means that the seller has accepted an offer and they are awaiting the closing of the sale.