(a) To be eligible for registration, an applicant must:
(1) be at least 18 years of age;
(2) hold a high school diploma or its equivalent;
(3) pay the fees required by the commission;
(4) have a place of business in this state or designate a resident of this state as the applicant's agent for service of process; and
(5) meet any additional qualifications required by this chapter or by the commission under this chapter or Chapter 51.
(b) Notwithstanding Subsection (a), a person is eligible for registration if the person holds:
(1) an active real estate broker license or an active real estate salesperson license under Chapter 1101; or
(2) an active real estate appraiser license or certificate under Chapter 1103.