Real estate license laws protect the ___ by ensuring a standard of competence and professionalism
Public
What goals are achieved by the public licensing laws
* establishing basic requirements for obtaining a real estate license and, in most cases, requiring continuing eduction to keep a license
* defining which activities require licensing
* describing the acceptable standards of conduct and practice for licensees
* enforcing those standards through a disciplinary system
How many states have license and regulate the activities for real estate professionals
All 50 states plus the District of Columbia and all of Canada’s provinces
What is the main objective of the laws?
To make sure that the rights of purchasers, sellers, tenants, and owners are protected from unscrupulous or negligent practices
Each states has a licensing authority ___ for real estate professionals
A commission, department, division, board, and/or agency
This authority has the power to issue
Licenses, make real estate information available to licensees and the public, and to enforce the statutory real estate law
Each licensing authority has adopted a set of ___ that administer the statutory law and ___ operating guidelines for licensees
Administration regulations, set
Both ___ and ___ are usually enforce through fines and the denial, suspension, or revocation of licensess
Regulations and statutory law
The regulations have the same force and effect as statutory law, though if they conflict
The statute will prevail
Real estate license laws protect the public by ensuring a ___ in the real estate industry
Standard of competence and professionalism
The laws achieve this goal by
* establishing basic requirements for obtaining a real estate license and requiring continuing education to keep a license
* defining which activities require licensing
* describing the acceptable standards and practice for licensees
* enforcing those standards through a disciplinary system
What are the main goals for these laws
To make sure the rights of purchasers, sellers, tenants, and owners are protected from unscrupulous or negligent practices