Brokerage Firms in Houston
August 12, 15
The most important thing is that Houston Brokerage Firms owe their clients their "fiduciary duties, which include care, confidentiality, loyalty, obedience, accounting and disclosure" (Wikipedia). These values are impressed into law as part of the conditions of licensing to practice. If you are looking for dealings in property, that should make you feel pretty secure. Representation of buyers or sellers for a fee without a license is illegal (unless you are a lawyer in some cases).
Brokers are the senior members of the real estate community offering legal and professional services beyond selling property. Licensing as a broker requires an academic year of coursework in law, contract forms, real estate finance and principles of real estate. All have to pass a certification examination to prove that they have mastered what they studied. Real estate brokers go through extensive background checks and all have their fingerprints on file with the FBI. The examination and preparation lead to an inactive license, which does not entitle one to practice. To be fully licensed as a broker, candidates must serve a lengthy documented sponsorship in a brokerage firm.
What emerges from this preparation is a seasoned professional who can pave the way through commercial real estate searches, negotiations and contracts for buyers, leases and sellers of commercial property.
There is only so much real estate. Each individual piece of commercial real estate has an individuality recognized in law. In some places, and in history, all land could only be owned by the King. Others could only own "estates" on the land, which would revert to the King under a host of dire circumstances. Each space on the land has to be carefully designated, mapped and documented in public records. The boundaries of property have to be carefully measured because each real estate negotiation has to do with the re-division of a unique irreplaceable resource, public space. The legality and tradition behind commercial real estate is not like ordinary product sales.
LandPark Commercial takes a boutique approach to commercial real estate, incorporating capital markets knowledge with local real estate expertise. Please contact us to see how we can help you.