Sentences with phrase «estate licensee engaged»

Through the Chapter we provide you, the real estate licensee engaged in commercial real estate, unique benefits and services to enhance your business.

Not exact matches

(D) A REALTOR ® may file annually with the REALTOR ®'s primary board on a form approved by the National Association a list of the licensees affiliated with that entity that are authorized to provide mortgage loan origination services based upon their real estate license and shall certify that those licensees included on the list are solely engaged in mortgage loan origination and are not engaged in listing, selling, leasing, managing, counseling or appraising real property.

[34] A licensee who engages in real estate brokerage must disclose to the seller or buyer that the principal is selling or buying and does not have legal title to the property.

Represent themselves as being a licensee or as being engaged in the business of buying, selling, exchanging, renting, leasing, managing, auctioning, or dealing with options on any real estate or the improvement thereon for others.

The court also found Brokerage in violation of state law prohibiting real estate licensees from engaging in «any conduct with demonstrates unworthiness, incompetency, bad faith or dishonesty.»

Additionally, licensees engaged in strata management participate in the errors and omissions insurance program administered by the Real Estate Errors and Omissions Insurance Corporation.

If there is no real estate component in the sale of a business by assets or sale of 100 % of the shares of the corporation that owns the business, or in circumstances where there is the sale of less than 100 % of the shares, licensees must advise the party that engages the licensee to list and sell the business that they are not acting as a licensee and that the licensee is not regulated under RESA in relation to the sale, including holding the deposit.

However, a licensee must remember that he or she may only provide real estate services on behalf of the brokerage with which they are engaged.

If you have been involved in a trade in real estate in which you believe a real estate licensee may have acted improperly, or you have engaged a brokerage to provide you with rental property management or strata management services, and believe that licensee has not acted properly, you may contact the Real Estate Council to file a compestate in which you believe a real estate licensee may have acted improperly, or you have engaged a brokerage to provide you with rental property management or strata management services, and believe that licensee has not acted properly, you may contact the Real Estate Council to file a compestate licensee may have acted improperly, or you have engaged a brokerage to provide you with rental property management or strata management services, and believe that licensee has not acted properly, you may contact the Real Estate Council to file a compEstate Council to file a complaint.

Licensees engaged in rental property management should be familiar with all of the requirements of RESA, the Real Estate Services Regulation, and the Rules in order to ensure that they do not inadvertently fail to comply or contravene what is required of them as a result of licensing.

The commission rate is neither fixed by law nor by any real estate board; it is negotiable between you and the licensee you engage to help you.

A client is defined in the Rules as the principal who has engaged the licensee to provide real estate services to or on behalf of the principal.

We license the more than 24,000 individuals and brokerages engaged in real estate sales, rental property and strata management, we enforce standards of conduct, we investigate complaints from the public against licensees, and we impose disciplinary sanctions under the Real Estate Serviceestate sales, rental property and strata management, we enforce standards of conduct, we investigate complaints from the public against licensees, and we impose disciplinary sanctions under the Real Estate ServiceEstate Services Act.

Declaratory Ruling 90 - 3 (Sven R. Paul)- unlicensed persons can be officers and shareholders of a licensed corporate real estate broker, but may not engage in licensed activity; a salesperson can not be a shareholder or officer of a corporate licensee; all real estate activities of the corporation must be conducted by an officer who is licensed as a real estate broker

287 DOS 98 Matter of DOS v. Uqdah Realty & Management Corp. — deposits; jurisdiction; fraudulent practices; failure to pay judgment; vicarious liability; notary public; disclosure of agency relationship; broker violated 19 NYCRR 175.1 when he deposited escrow funds into his operating account; broker committed conversion when his operating account fell below deposit amount; broker engaged in fraudulent practices when he illegally retained buyer's trust funds and attempted to qualify prospective buyer for mortgage by falsely stating their employment; broker failed to disclose his agency relationship to his client; failure to pay judgment; corporate real estate broker vicariously liable and charged with actual knowledge of violation of law because of representative broker's cognizant misconduct as corporate officer; broker is not required to deposit a refundable commission in an escrow account unless contractually demanded; corporate broker and representative broker's license revoked; restitution of deposit of $ 12,000 plus interest; notary public commission revoked based on misconduct as a real estate licensee

«client» means, in relation to a licensee, the principal who has engaged the licensee to provide real estate services to or on behalf of the principal;

(b) does not, in any real estate advertising with respect to the real estate, indicate the name, address or telephone number of their related brokerage or of any place where the licensee is engaged in their capacity as licensee; and

3 - 3 Subject to sections 3 - 3.1 and 3 - 3.2, if a client engages a brokerage to provide real estate services to or on behalf of the client, the brokerage and its related licensees must do all of the following:

107 DOS 98 Matter of DOS v. Sosis - subject matter jurisdiction; due process; failure to appear at hearing; proper business practices; deposits; fraudulent practice; DOS fails its burden of proof; DOS has subject matter jurisdiction if at the time the disciplinary proceeding was commenced by proper service of a notice of hearing and complaint the party was (i) licensed to engage in regulated real estate activities, or (ii) an applicant for either a license or for the renewal of a license to engage in regulated real estate activities, or (iii) eligible to automatically renew the prior license under the two - year limitation provision of RPL § 441 (2); ex parte hearing is permissible upon proof of proper notice of hearing; DOS has subject matter jurisdiction where party was licensed at the time proceeding was commenced and, where at time of hearing, although not licensed was eligible to automatically apply to renew pursuant to RPL § 441 (2); licensee operated a real estate brokerage business under an unlicensed name; licensee unlawfully retains deposit funds after deposit monies were delivered on the condition that same were to be disbursed only on the principal's consent and approval and said consent and approval was not given; licensee's illegal exercise of right of ownership over his principal's funds spawns conversion and constitutes a fraudulent practice; DOS fails its burden of proof to establish licensee failed to deposit trust funds in a segregated escrow account, engaged in fraud and changed business location without notice to DOS; restitution ordered in the amount of $ 1,900 plus interest, fine of $ 1,000 and any further application for licensure shall not be considered until applicant pays said fine and provides proof of payment of restitution

Another type of sole agency, «designated agency», occurs when the brokerage and the client agree that the brokerage will designate one or more licensees engaged by that brokerage to provide real estate services as sole agent to or on behalf of the client.

5 - 17 (1) Despite section 5 - 16, a brokerage may engage in dual agency in respect of a trade in real estate if the real estate is in a remote location that is under - served by licensees and where it is impracticable for the parties to be provided trading services by different licensees.

The licensee is engaged to provide real estate services to the personal real estate corporation.

79 DOS 99 Matter of DOS v. Pagano - disclosure of agency relationships; failure to appear at hearing; proper business practices; unauthorized practice of law; unearned commissions; vicarious liability; fraudulent practice; jurisdiction; ex parte hearing may proceed upon proof of proper service; DOS has jurisdiction after expiration of respondents» licenses as acts of misconduct occurred and the proceedings were commenced while the respondents were licensed; licensee fails to timely provide seller client with agency disclosure form prior to entering into listing agreement and fails to timely provide agency disclosure form to buyer upon first substantive contact; broker fails to make it clear for which party he is acting; broker violates 19 NYCRR 175.24 by using exclusive right to sell listing agreement without mandatory definitions of «exclusive right to sell» and «exclusive agency»; broker breaches fiduciary duties to seller clients by misleading them as to buyer's ability to financially consummate the transaction; broker breaches his fiduciary duty to seller by referring seller to the attorney who represented the buyers when he knew or should have known such attorney could not properly protect seller's interests; improper for broker to use listing agreements providing for broker to retain one half of any deposit if forfeited by buyer as such forfeiture clause could, by its terms, allow broker to retain part of the deposit when broker did not earn a commission; broker must conduct business under name as it appears on license; broker engaged in the unauthorized practice of law in preparing contracts for purchase and sale of real estate which did not contain a clause making it subject to the approval of the parties» attorneys and were not a form recommended by a joint bar / real estate board committee; broker demonstrated untrustworthiness and incompetency in using sales contract which purported to change the terms of the listing agreement to include a higher commission; broker demonstrated untrustworthiness and incompetency in using contracts of sale which were unclear, ambiguous, vague and incomplete; broker failed to amend purchase agreement to reflect amendment to increase deposit amount; broker demonstrated untrustworthiness in back - dating purchase agreements; broker demonstrated untrustworthiness in participating in scheme to have seller hold undisclosed second mortgage and to mislead first mortgagee about the purchaser's financial ability to purchase; broker demonstrated untrustworthiness by claiming unearned commission and filing affidavit of entitlement for unearned commission; DOS fails to establish by substantial evidence that respondent acted as undisclosed dual agent; corporate broker bound by the knowledge acquired by and is responsible for acts committed by its licensees within the actual or apparent scope of their authority; corporate and individual brokers» licenses revoked, no action taken on application for renewal until proof of payment of sum of $ 2,000.00 plus interests for deposits unlawfully retained

On May 19, 2016, the Commission will be holding public hearings on changes to Nebraska Administrative Code, Title 299, Chapter 1, allowing the Commission to certify pre-license real estate education offered in correspondence format; Title 299, Chapter 7, requiring a 3 hour continuing education class in property management for licensees engaged in that activity; and, Title 302, Chapter 1, adding questions about carbon monoxide alarms and noxious weeds to the Seller Property Conditions Disclosure Statement.

(b) does not, in any real estate advertising with respect to the real estate, indicate the name, address or telephone number of their related brokerage or of any place where the licensee is engaged in their capacity as licensee; and (c) does not provide any real estate services to the other party, or receive from the other party any remuneration with respect to real estate services, in relation to the acquisition or disposition of the real estate.

Section 3 - 3 of the Council Rules Subject to sections 3 - 3.1 and 3 - 3.2, if a client engages a brokerage to provide real estate services to or on behalf of the client, the brokerage and its related licensees must do all of the following:

Following the provincial introduction of designated agency by the British Columbia Real Estate Association in July 2012, and the amendment of the Council Rules in July 2013 to reflect the new practice, the Council has been engaged in consultations with managing brokers and other stakeholders from across the province, developing practice standards to guide licensees.

Whether a real estate licence and its attendant Errors and Omissions Insurance will allow a licensee to engage in the sale of property other than real estate is not a matter to consider lightly.

In such circumstances, when they are engaged by a client to provide real estate services, the brokerage and its related licensees must:

Subject to sections 3 - 3.1 and 3 - 3.2, if a client engages a brokerage to provide real estate services to or on behalf of the client, the brokerage and its related licensees must do all of the following:

«Client» is defined in section 1 - 1 of the Rules as «Client» means, in relation to a licensee, the principal who has engaged the licensee to provide real estate services to or on behalf of the principal.

One type of sole agency, «designated agency», occurs when the brokerage and the client agree that the brokerage will designate one or more licensees engaged by that brokerage to provide real estate services as sole agent for the client.

Licensees must only receive remuneration related to the provision of real estate services from the brokerage with which they are engaged.