Blank Texas Bbe 1 PDF Form

What is the Texas BBE 1 form used for?

The Texas BBE 1 form is an application for a broker license by a business entity, such as a corporation, limited liability company (LLC), or partnership. This form must be completed and submitted to the Texas Real Estate Commission (TREC) if the business entity intends to provide real estate brokerage services in Texas. It is important to note that the designated broker of the entity must be an active, individually licensed Texas real estate broker.

What are the requirements for submitting the Texas BBE 1 form?

To submit the Texas BBE 1 form, the business entity must meet several requirements. First, the designated broker must be individually licensed as an active Texas real estate broker. If the designated broker does not own at least 10% of the entity, the business must maintain errors and omissions (E&O) insurance of at least $1 million. Additionally, the application must include a current "Certificate of Good Standing," dated within 21 days prior to submission, and all applicable fees must be paid at the time of filing.

What fees are associated with the Texas BBE 1 application?

The total fees required when submitting the Texas BBE 1 application amount to $143.00, which includes a $123.00 application processing fee, a $20.00 fee for the Real Estate Research Center at Texas A&M University, and a $10.00 Recovery Fund Fee if not previously paid. If the application is submitted on paper rather than online, a $20.00 paper filing fee will also apply. All fees must be submitted at the time of application to avoid rejection.

What happens if the application is incomplete?

If the Texas BBE 1 application is incomplete, it will not be returned for completion. Instead, TREC will mail a letter to the applicant requesting that the deficiencies be remedied. It is crucial to ensure that all required information and documents are included to avoid delays in processing the application.

Are fingerprints required for the designated broker?

Yes, fingerprints are required for the designated broker of the business entity. The designated broker must pay a fee to the Department of Public Safety (DPS) for fingerprinting, which is necessary to meet the statutory requirements for honesty, trustworthiness, and integrity. The applicant must present a completed FAST Pass at the time of fingerprinting. It is essential to plan ahead, as the digital fingerprinting process may take up to 10 days.

1. Incomplete Applications: Submitting an application that lacks necessary information can lead to rejection. Ensure all sections are filled out completely.

2. Missing Fees: Failing to include the required fees will result in the application being returned. Double-check that all fees are submitted at the time of filing.

3. Incorrect Fee Payment: Payments must be made via cashier's check, personal check, or money order. Cash payments are not accepted, which can delay processing.

4. Failure to Provide Certificate of Good Standing: A current "Certificate of Good Standing" must be included. This document should be dated within 21 days of the application submission.

5. Not Designating a Broker: A designated broker must be appointed, and this person must be an active Texas real estate broker. Neglecting this step can lead to disapproval.

6. Ignoring Background Check Requirements: Applicants must be aware that background checks will be conducted. Any issues revealed may affect approval.

7. Not Attaching Required Documentation: If the designated broker does not own at least 10% of the entity, attaching the BE COI-0 form is essential. Missing this can result in delays.

8. Overlooking Fingerprinting: The designated broker must complete fingerprinting for the application. This step is crucial for meeting licensing requirements.

When applying for a broker license by a business entity in Texas, several additional forms and documents may be required to ensure compliance with state regulations. Each of these documents serves a specific purpose in the application process, facilitating the review and approval of the business entity's request for licensure.

• Certificate of Good Standing: This document, issued by the Texas Comptroller of Public Accounts, confirms that the business entity is in good standing and has no outstanding tax obligations. It must be dated within 21 days prior to the application submission.
• Background History Form: This form is necessary if the business entity or its designated broker has had any professional licenses suspended, revoked, or denied in Texas or any other state. It provides detailed information about any past disciplinary actions.
• Certificate of Insurance (BE COI-0): If the designated broker does not own at least 10% of the business entity, this certificate must be attached to demonstrate that the entity has the required errors and omissions insurance coverage of $1 million.
• Proof of Ownership: If the designated broker owns 10% or more of the business entity, documentation such as a resolution or official meeting minutes must be provided to verify ownership.
• Application Fee Payment: A payment receipt for the application processing fee and any additional fees must be included. This ensures that the application is not rejected due to missing payments.
• FAST Pass: This document is required for fingerprinting, which is a part of the background check process. The applicant must present a completed FAST Pass at the time of fingerprinting.
• Fingerprinting Confirmation: After fingerprinting, a confirmation from the Department of Public Safety (DPS) is needed to verify that the applicant's fingerprints are on file, meeting the honesty and integrity requirements.
• Operating Agreement (for LLCs): This document outlines the management structure and operating procedures of the LLC. It may be required to clarify the roles and responsibilities of the designated broker.
• Partnership Agreement (for partnerships): Similar to an operating agreement, this document details the terms of the partnership, including the roles of each partner and how decisions are made.
• Foreign Business Entity Documentation: If the business entity is chartered outside Texas, it must provide documentation proving its licensing status in its home state, along with a certificate recognizing its standing.

These documents play a crucial role in the application process for a Texas broker license by a business entity. Ensuring that all required paperwork is completed and submitted correctly can significantly enhance the likelihood of a smooth approval process.

The Texas BBE 1 form, used for applying for a broker license by a business entity, shares similarities with several other documents in the real estate and business licensing domain. Below is a list of these similar documents, highlighting how they relate to the Texas BBE 1 form.

• Application for Individual Broker License: This document is required for individuals seeking to obtain a broker license. Like the BBE 1 form, it necessitates proof of prior education and experience in real estate.
• Application for Salesperson License: Similar to the BBE 1 form, this application is for those looking to enter the real estate field. It requires background information and proof of completed coursework.
• Certificate of Good Standing: Both the BBE 1 form and this certificate require documentation proving that a business entity is in good standing and compliant with state regulations.
• Background History Form: This form is necessary for both business entities and individuals applying for licenses. It gathers information on any past disciplinary actions or legal issues.
• Application for Foreign Business Entity License: For businesses incorporated outside Texas, this application is similar to the BBE 1 form as it requires proof of licensing in the home state and compliance with Texas regulations.
• Broker Business Entity Insurance Certificate: This document, similar to the BBE 1 form, may be required to demonstrate that a business entity has the necessary errors and omissions insurance to operate legally.
• Renewal Application for Broker License: Just like the BBE 1 form, this renewal application requires submission of fees, proof of continuing education, and may involve background checks to ensure ongoing compliance.

When filling out the Texas BBE 1 form, it is crucial to follow specific guidelines to ensure a smooth application process. Here are five things you should and shouldn’t do:

• Do ensure all information is accurate. Double-check each section for errors or omissions. Inaccurate information can lead to delays or disapproval.
• Do include the required fees. All fees must be submitted at the time of filing. An application without the correct fees will be rejected.
• Do provide a current "Certificate of Good Standing." This certificate must be dated within 21 days of your application to demonstrate compliance with state regulations.
• Do designate an eligible broker. Ensure that the designated broker is licensed as an active Texas real estate broker and meets the ownership requirements.
• Do plan for fingerprinting. The designated broker must be fingerprinted, and this process can take time, so plan accordingly.

• Don't submit an incomplete application. Incomplete applications will not be returned for completion. Instead, you will receive a letter requesting the missing information.
• Don't pay with cash. Payments must be made via cashier's check, personal check, or money order. Cash payments are not accepted.
• Don't ignore background check requirements. Be aware that any issues revealed in a background check may lead to disapproval of your application.
• Don't forget to provide proof of ownership. If the designated broker does not own at least 10% of the entity, you must attach the BE COI-0 form.
• Don't delay in meeting all licensing requirements. If all requirements are not met within one year of filing, the application will expire.

By adhering to these guidelines, you can improve your chances of a successful application for a Texas Real Estate Broker license by a business entity. Remember, thoroughness and attention to detail are key in this process.

• Only individuals can apply for a broker license. This is incorrect. Business entities such as corporations, LLCs, and partnerships can also apply for a broker license using the Texas BBE 1 form.
• A designated broker does not need to be licensed. This is false. The designated broker must be an active Texas real estate broker for the application to be approved.
• Any officer of the business entity can act as the designated broker. This is misleading. Only specific individuals, such as an officer for a corporation or a manager for an LLC, can be designated to act for the business entity.
• A Certificate of Good Standing is not required. This is a misconception. A current Certificate of Good Standing, issued within 21 days prior to the application, is mandatory.
• Fees can be submitted after the application is filed. This is incorrect. All required fees must be submitted at the time of filing the application.
• Fingerprinting is optional for the designated broker. This is not true. Fingerprints are required for the designated broker, and failure to comply may delay the licensing process.
• Applications can be completed at any time without a deadline. This is misleading. If all requirements are not met within one year of filing, the application will expire.
• Past criminal offenses do not affect the application. This is incorrect. Background checks are conducted, and any relevant offenses may lead to disapproval of the application.

When filling out and using the Texas BBE 1 form for a business entity to apply for a real estate broker license, consider the following key takeaways:

• Designated Broker Requirement: The designated officer, manager, or partner of the business entity must be an active Texas real estate broker. This individual is responsible for acting on behalf of the entity in real estate transactions.
• Fees Submission: All required fees must be submitted at the time of filing the application. An application without the appropriate fees will be rejected and returned. Acceptable payment methods include cashier's check, personal check, or money order.
• Background Investigation: Filing the application permits an investigation into the applicant's background. Disqualifying information may lead to disapproval, even if other application requirements are met.
• Certificate of Good Standing: A current "Certificate of Good Standing," issued within 21 days of the application, is necessary. This certificate verifies that the business entity has no outstanding tax obligations to the state.