Sentences with phrase «when real estate licensees»

Federal fair housing law, which prohibits discrimination on the basis of race, color, religion, sex, national origin, family status, or handicap, applies when real estate licensees advertise or lease any residential property.

When a real estate licensee acts as the escrow agent, the licensee has a fiduciary duty toward each party under the license law.

Not exact matches

And here's the thing — it has become clear that when first approached, many potential Peak Real Estate Network licensees assume that the pay scheme is too good to be true.

The common wisdom — some of it mine, I had just finished six years on the Real Estate Council — was the public would be better served by licensees who were fully trained in property management, rather than by part - time practitioners who did property management only when a client wanted them to find a tenant for the house just purchased.

When I say REALTORS ®, I mean REALTORS ®, not just any real estate licensees.

A Mississippi appellate court has ruled that no joint venture existed between a real estate licensee and an investor when the two did not share profits or participate in equal management of a for - profit business enterprise.

For instance, the Professional Standards Manual for BC realtors states that: «When a (real estate) licensee refers a client to a financial institution or a mortgage broker, the Registrar of Mortgage Brokers has determined that the licensee will be considered to have arranged the mortgage if the licensee does anything more than provide a name and contact information.

Maybe CREA's next TV ad should be a one minute piece wherein someone like me delivers an apology to the public for trying to convince them that all Realtors are professionals, when in fact far too many licensees on any given day are tryouts who will become desperate for commissions before they pack it in, and that from here on in only properly pre-screened candidates will be allowed to attend real estate school and thereafter embark on a three - year apprenticeship program before becoming licensed as a Realtor... on probation... because... the public deserves better that it has been getting from us.

Similarly, when potential customers ask for a REALTOR ®, they need to know they're getting more than a real estate licensee — they're getting a member of the National Association of REALTORS ®.

Who can forget 21 per cent mortgage interest and the then Disclosure of Interest in Trade, introduced by a right wing provincial government, serious about requiring licensees disclosing their interest when buying and selling real estate.

With respect to trust accounts, the amended statute provides that real estate brokers and licensed real estate property managers may not commingle funds in a client trust account, with the exception of compensation earned in connection with a real estate sale, purchase, or exchange transaction.2 Commingling is defined as «the mixing of funds from any source, including personal funds, with trust funds... by a licensed real estate property manager or principal real estate broker.3 Licensees do not need to create a trust account when acting only as a courier conveying a check payable to the seller from the purchaser.4

Georgia's highest court has considered whether a real estate licensee who referred clients to her lover who was also a licensee could later claim referral fees when the lovers» relationship came to an end.

A Kentucky appellate court has ruled that a real estate licensee did not guarantee the quality of a pest control company when the licensee recommended the pest control company to a buyer.

The Supreme Court of Alabama has ruled on when an appraiser can be liable to third parties for a negligent misrepresentation made in his appraisal report and also whether a real estate licensee representing the seller has a duty to disclose to the buyer that the owner of the licensee's brokerage has an ownership interest in the property being sold.

When managing rental real estate outside of RESA for a family member, partnership or corporation, in addition to complying with the provisions noted above, the licensee must provide the rental property management services without remuneration.

Licensees who are required to make disclosure when offering real estate for sale may wish to include the fact that disclosure will be required on the listing.

The law requires real estate licensees to perform the following basic duties when dealing with any real estate buyer or seller as customers: present all offers in a timely manner, account for money or other property received on your behalf, provide an explanation of the scope of services to be provided, be fair and honest and provide accurate information, provide limited confidentiality, and disclose «material adverse facts» about the property or the transaction which are within the licensee's knowledge.

This obligation applies to brokerages and related licensees when providing real estate services.

Therefore, limited dual agency in designated agency occurs only when the same licensee or licensees have been designated as the designated agent to represent two different clients who have conflicting interests; e.g. who become interested in negotiating with respect to the same real estate.

A common conflict that arises is when the same licensee is representing both the seller and the buyer in the same trade in real estate.

The disclosure must be made to an unrepresented party when the licensee is already representing a client to a trade in real estate.

Under the former Real Estate Act, licensees were required to disclose to sellers when the licensee was acquiring real estReal Estate Act, licensees were required to disclose to sellers when the licensee was acquiring real eEstate Act, licensees were required to disclose to sellers when the licensee was acquiring real estreal estateestate.

In other words, when you choose to work with any real estate licensee, your business relationship is legally with the brokerage firm and not with the associated licensee.

Under RESA, the need for disclosure has been expanded to include disclosure when a licensee is disposing of real estate and disclosure when a licensee is assisting an associate in the acquisition or disposition of real estate.

When offering their own real estate for rent, without an exemption, section 2 of RESA would require that the licensee comply with all of the provisions of RESA.

Students will learn how to provide the real estate services - at any stage in the service member's military career - that meet the needs of this niche market and win future referrals.This course is designed to assist the licensee in gaining critical knowledge to develop their expertise when working with veterans and active duty military.

In addition, licensees should be aware that their Real Estate Errors and Omissions Insurance Indemnity Plan excludes coverage for licensees when they are either buying or selling real estReal Estate Errors and Omissions Insurance Indemnity Plan excludes coverage for licensees when they are either buying or selling real eEstate Errors and Omissions Insurance Indemnity Plan excludes coverage for licensees when they are either buying or selling real estreal estateestate.

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.

The Working with a Realtor ® brochure (developed by the British Columbia Real Estate Association), under the heading «When there is no agency relationship», provides examples what a licensee can and can not do when working with a custoWhen there is no agency relationship», provides examples what a licensee can and can not do when working with a custowhen working with a customer.

Dual agency is when a licensee represents two or more parties with competing interests in a trade in real estate, such as both buyer and seller, or two or more competing buyers.

«As part of their discipline procedures, the Real Estate Council of British Columbia (the Council) may impose administrative penalties on licensees when they contravene designated rules.

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

(a) when a referral fee is received by a brokerage in relation to trading services, and the only trading service provided by the brokerage is the referral of a person to a licensee or a licensee to a person for the purposes of a licensee providing real estate services; or

The Nova Scotia Real Estate Commission encourages first time buyers to use the services of a real estate licensee when searching for that perfect first hReal Estate Commission encourages first time buyers to use the services of a real estate licensee when searching for that perfect firstEstate Commission encourages first time buyers to use the services of a real estate licensee when searching for that perfect first hreal estate licensee when searching for that perfect firstestate licensee when searching for that perfect first home.

When a client instructs a real estate licensee not to include the Standard Assignment Terms in an offer, the licensee must then take certain steps to ensure the seller is informed and consents.

This aspect of limited representation allows a licensee to facilitate a real estate transaction by assisting both the buyer and the seller, but a licensee will not work to represent one party to the detriment of the other party when acting as a transaction broker to both parties.

3 - 4 When providing real estate services, a licensee must act honestly and with reasonable care and skill.

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.

When I was a new licensee I interviewed real estate companies.

Licensees can be paid by a personal real estate corporation for the provision of real estate services when the following requirements are met:

So when the BC legislature amended the Real Estate Services Regulation to allow licensees to incorporate, section 10.6 (1)(e) was included, clearly stipulating that personal real estate corporations may not «conduct any business other than the provision of real estate services and ancillary services directly associated with the provision of real estate services.&raReal Estate Services Regulation to allow licensees to incorporate, section 10.6 (1)(e) was included, clearly stipulating that personal real estate corporations may not «conduct any business other than the provision of real estate services and ancillary services directly associated with the provision of real estate services.&Estate Services Regulation to allow licensees to incorporate, section 10.6 (1)(e) was included, clearly stipulating that personal real estate corporations may not «conduct any business other than the provision of real estate services and ancillary services directly associated with the provision of real estate services.&rareal estate corporations may not «conduct any business other than the provision of real estate services and ancillary services directly associated with the provision of real estate services.&estate corporations may not «conduct any business other than the provision of real estate services and ancillary services directly associated with the provision of real estate services.&rareal estate services and ancillary services directly associated with the provision of real estate services.&estate services and ancillary services directly associated with the provision of real estate services.&rareal estate services.&estate services.»

5 - 11.1 (1) When an offer to acquire real estate is presented to a seller by the seller's licensee, a licensee who is providing trading services to or on behalf of the seller must make a disclosure to the seller in accordance with this section.

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

Stigmatized or Psychologically Impacted Properties Sometimes when dealing in real estate, the onus will be on you, the buyer, to ask questions regarding issues of specific importance to you and your family, rather than relying on a real estate licensee to try to anticipate all of your needs.

However, the court noted that the laws of Texas, Florida, and California for real estate licensees were substantially similar, weakening the Regulators argument for needing to impose their own state laws upon the Challenger when the Challenger was already regulated under a similar Texas regulatory scheme.

The court stated that these decisions should not be construed as immunizing real estate licensees from property disclosure lawsuits as real estate licensees can still be sued when they have special knowledge of an undisclosed condition that is not discovered by the buyer and which would probably affect the buyer's decision to proceed with the transaction.

REALTORS ®, when advertising unlisted real property for sale / lease in which they have an ownership interest, shall disclose their status as both owners / landlords and as REALTORS ® or real estate licensees.

All licensees have the legal right under the Real Estate Services Act to propose a consent order when they wish to resolve a matter by consent rather than proceeding to a hearing.

When licensees provide real estate services to developers, they must do so through the brokerage with which they are licensed rather than directly with the developers.

175.17 for soliciting a listing when in fact what was solicited was the actual sale; cease and desist regulation applies to all licensed broker's regardless of in what capacity they act; broker bound by cease and desist regulation even though he was acting as a purchaser of the property and not in his capacity as a real estate licensee; $ 500.00 fine