Sentences with phrase «licensee at a brokerage»

This allows the brokerage to avoid problems arising from dual - agency relationships for licensees at the brokerage.

Q: I am a licensee at a brokerage in a town of 2,000 people.

There are two licensees at my brokerage: myself and my managing broker.

That is to say, when any licensee at a common law brokerage enters into agency with a buyer or a seller, every licensee at the brokerage is immediately considered to be a representative of that buyer or seller and owes them undivided loyalty, advice and advocacy.

If a licensee at your brokerage, whose conduct is the subject of an investigation, is called to attend an interview with the Commission, you are invited to attend.

Brokers are included (typically being copied on emails or letters) in the correspondence of formal complaints received by the Commission regarding a licensee at their brokerage.

While emergency suspensions of brokerage licences occur very rarely, it is worth knowing how a brokerage licence suspension impacts licensees at the brokerage.

To be certain that all the licensees at your brokerage are properly licensed for the services they are providing, make sure you're familiar with the following:

Understandably, licensees at a brokerage which has had its licence suspended may have concerns about receiving remuneration that is due to them from any recent real estate transactions.

Our question this month comes from a managing broker who wonders what he can do to make sure that licence renewal applications for licensees at his brokerage are approved in a timely way.

This means that if a brokerage's licence has been suspended and there is a shortfall in the brokerage's trust accounts, any portion of the shortfall intended to be remuneration payable to a licensee at the brokerage will not be covered by the Compensation Fund.

Q: What should I do, or what can I tell licensees at my brokerage to do, that will help to make sure licence renewal applications are processed smoothly?

You Asked Us: Licence Applications Our question this month comes from a managing broker who wonders what he can do to make sure that licence renewal applications for licensees at his brokerage are approved in a timely way.

Managing brokers can also take note of two articles of particular interest: a reminder to review the licence applications of new licensees at their brokerages, to ensure these licensees are not planning on providing any real estate services other than through the brokerage (see «Once a Licensee, Always a Licensee»); and a look ahead at the new Applied Practice Course that will be launching in January 2015.

This means that whenever a client enters into an agency relationship with the brokerage, all licensees at that brokerage take on the same duties in relation to that client.

Not exact matches

Finding that the agreement between the Brokerage and Licensees required a payment of a reasonable amount of the commission following their deparature, the court found that both licensees were entitled to at least some portion of the commission for their actions in bringing about these commissions, and therefore the evidence supported the trial courtLicensees required a payment of a reasonable amount of the commission following their deparature, the court found that both licensees were entitled to at least some portion of the commission for their actions in bringing about these commissions, and therefore the evidence supported the trial courtlicensees were entitled to at least some portion of the commission for their actions in bringing about these commissions, and therefore the evidence supported the trial court's award.

By looking at how the Brokerage had treated the commissions owed to the Licensees following their departure from the Brokerage, the trial court found that the Brokerage's own conduct supported a conclusion that no fixed policy existed: in one case, the Brokerage assessed a ticket charge; in another, a little less than 50 % of the commission was retained; in another, 75 % of the commission was withheld; and in two others, 100 % of the commission was withheld.

If you have entrusted money to a real estate licensee or an unlicensed individual at a real estate brokerage, and your money has been:

Brokerages have a responsibility to supervise and manage the activities of licensees engaged at the business, and brokerages who do not comply with these requirements can also expect to face dBrokerages have a responsibility to supervise and manage the activities of licensees engaged at the business, and brokerages who do not comply with these requirements can also expect to face dbrokerages who do not comply with these requirements can also expect to face discipline.

The fund provides protection if a member of the public suffers a compensable loss when money entrusted to a real estate licensee or an unlicensed individual at a brokerage is misappropriated, obtained by fraud, or intentionally not paid over or accounted for.

(b) the related licensee is licensed in relation to, and engaged by, the brokerage at the time of that reinstatement,

This is rather like licensees introducing themselves to a consumer at an open house; they identify themselves as a real estate licensee and present a business card with the name of their brokerage displayed.

23 (1) If a brokerage licence becomes inoperative or is suspended or cancelled, the licence of any related licensee becomes inoperative, effective as of the time at which the brokerage licence becomes inoperative or is suspended or cancelled.

(3) Subject to the rules, if the licence of the only managing broker for a brokerage becomes inoperative or is suspended or cancelled, the licences of the brokerage and its related licensees become inoperative, effective as of the time at which the managing broker licence becomes inoperative or is suspended or cancelled.

(b) the related licensees who are licensed in relation to that brokerage and engaged by the brokerage at the time of that reinstatement,

Unlike common law, when any licensee at a designated agency brokerage enters into agency with a buyer or seller, only the licensee (s) specified in the brokerage agreement as the designated agent represents the buyer or the seller.

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

The licensee and the personal real estate corporation are licensed at the same level, with the same related brokerage.

Mr. Smith is also the leader of a team of licensees at his related brokerage, known as the ABC Team, and he wonders if he can distribute commissions to the other team members through his personal real estate corporation.

168 DOS 98 Matter of DOS v. Briggs — due process; failure to appear at hearing; proper business practices; ex partehearing may proceed upon proof of proper service; licensee changed location of principal place of business without notice to DOS and operated a real estate brokerage business under an unlicensed name; real estate services rendered on behalf of an unlicensed entity are illegal; $ 500.00 fine, failure to timely pay fine will result in suspension

STEP 2: If the licensee is engaged at your brokerage, the managing broker should speak with them directly.

Licensees with questions about designated agency now have fresh resources at hand: new and expanded content on agency relationships, including designated agency, has just been published in the Council's online Professional Standards Manual (PSM) and Brokerage Standards Manual (BSM).

be in attendance at a property during a licensee tour which is not open to the public so long as the unlicensed assistant does not answer any questions or offer any information beyond what has been provided, in writing, by the seller's brokerage;

Note: A proposed amendment to section 4 - 6 of the Council Rules, removing the requirement for advertising by licensees to include the brokerage name in a «prominent and easily readable way,» was not approved by the Council at this time and has been referred back to the Council's Trading Services Advisory Group for further study.

Understanding Designated Agency: New Information and Resources for Licensees Licensees with questions about designated agency now have fresh resources at hand: new and expanded content on agency relationships, including designated agency, has just been published in the Council's online Professional Standards Manual (PSM) and Brokerage Standards Manual (BSM).

Practice Tip: Put systems in place at the brokerage level to assist all employees and related licensees to manage their time and workloads.