Question (AZ): Do you foresee the change in government causing a rise in interest rates, a decrease in interest rates, or do you think things will stay about the same?

Answer: Those are very good questions. Unfortunately, they encompass areas of prediction that are not only beyond our area of expertise, but also those of others as no one -- in our opinion, has ever been particularly accurate on such projections. If we knew in advance as a reliable fact which direction interest rates were headed, we'd all be rich!

However, there are some websites that can be useful as tools to assist in making such predictions. Here are a few -- but by no means all, examples of sources you can access:

• RealtyTimes.com columnist Peter G. Miller at AskRealtyTimes@realtytimes.com answers real estate and real estate related questions;

• OurBroker.com is another website published by Peter G. Miller and can provide a wealth of targeted answers;

• Freddie Mac chartered by the U. S. Congress as a private shareholder corporation under the Federal Home Loan Mortgage Corporation Act, publishes a Primary Mortgage Market Survey along with an archived weekly compilation of those surveys; and,

• Fannie Mae chartered by the U.S. Congress as a private shareholder corporation under the Federal National Mortgage Association Charter Act.

Question (CA): I live in an apartment building in Hollywood that has 12 units. There was a unit in my building that was vacant for 4 months. My landlord was using his Realtor to rent this property. I asked if I could start showing the apartment and within a week found a tenant for him who signed a year lease. The monthly rent is $1500 for a total of $18,000 for the one year lease.

What amount of commission is a fair amount to receive for renting this apartment for my landlord? There are 3 more units in my building that are coming available and I would like to find the tenants for my landlord if I can receive a commission for my efforts/results.

Answer: Division 4, Part 1, Chapter 3, Article 1, Section 10130 states: "It is unlawful for any person to engage in the business, act in the capacity of, advertise or assume to act as a real estate broker or a real estate salesman within this state without first obtaining a real estate license from the department." The scenario you have outlined would, by definition, require a California Real Estate License. We suggest you access the department's website and find out about the educational and other requirements of obtaining licensure.

Question (FL): I just came back to Florida from looking at my properties in Splendora, Texas & Salt Lake [Rockport, Texas.]. I have been a Massachusetts licensed broker in Cape Cod for many years.

Since giving up my office space a few years ago due to taking care of a sick family member, I found it too expensive to go back and forth, so I built a place in Down East, Maine on the shore.

Maine requires a non resident state test to open an office there. Maine does not recognize Massachusetts broker license. Does Texas require a test?

I thought about building a place outside of Houston, but if I can't make a few dollars in my own business selling out of my house, I will sell it out and move a little more to the south. I see you are licensed in 3 states. How easy was it?

Answer: Texas does not have broker reciprocity with any other state. I was first licensed as a Texas real estate salesperson in early 1976, then approximately two years later as a broker. Many years later as a condition of my employment with a Texas real estate firm, I had to add Georgia licensure. Once I obtained the Georgia license, I used Broker reciprocity from Georgia to obtain my Massachusetts broker license.

Question (NJ): Do you gentlemen know anything about Kopernik Shores just outside of Brownsville, Texas? I'm interested in investing in that subdivision but it seems that information is limited. If you know of any real estate agencies I can get in contact with so I may purchase property there it would be very much appreciated.

Answer: What we know is that Kopernik Shores is located in Cameron County. That County is what is called a "First-Tier County" as far as the Texas Department of Insurance is concerned since it borders the Gulf of Mexico and is therefore subject to hurricane-force winds and flooding.

The best way to learn about the area of Cameron County, including Kopernik Shores, is to get a Realtor to so some research for you. We suggest you enter a search string in your favorite search utility (we used Google) by entering "Brownsville+Texas+Kopernik Shores" (without the quotes) or "Brownsville+Texas+Kopernik Shores+Realtors."

Authors's Note: When we receive a question from a reader, we always try to immediately send an acknowledgement that we have received and read it, and then we also offer some general "self-help" suggestions for obtaining answers. If a reader's question is selected for answering (we only have time to answer approximately 20 percent of the questions received), Mr. Jacobus and I both contribute to the writing of the answer.

Published: December 12, 2006

Use of this article without permission is a violation of federal copyright laws.

George Stephens, CRB is the Broker of ERA Stephens Properties. He is licensed as a mortgage broker in Texas, and a real estate broker in Texas, Georgia, and Massachusetts. Charles J. Jacobus, JD is Board Certified by the Texas Board of Legal Specialization in Residential and Commercial Real Estate Law, and the author of Texas Real Estate Law, and Texas Real Estate, both published by Thomson Publishing. He also teaches at Champions School of Real Estate, Houston Community College, and is an adjunct professor at the University of Houston Law Center. To send us a question visit AskGeorge.net and click the "Ask A Question" button. The answers to questions in this column do not contain legal advice. George and Chuck are co-authors of Texas Real Estate Brokerage and Law of Agency, published by Thomson Publishing. If you wish to obtain legal advice, you should consult your own attorney.