Lesson_08 - Printable Lesson Materials Print these...

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Printable Lesson Materials 13218 NE 20th Street Bellevue, WA 98005 425-747-7272 800-221-9347 www.rockwellinstitute.com Print these materials as a study guide This portion of your printable materials consists of dozens of frames that summarize the content in this lesson. The frames are arranged on the page to make it easy for you to study the material and add your own notes from your textbook or the online course. Graphic Summaries Many students learn best from sets of questions, and this multiple choice quiz allows you to focus your review of the material to important topics. Quizzes These printable materials allow you to study away from your computer, which many students find beneficial. These materials consist of two parts: graphic summaries of the content and a multiple choice quiz . © 2009 Rockwell Institute
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1 California Real Estate Law Copyright 2006, Rockwel Publishing, Inc. Lesson 8: Regulation of Real Estate Licensees Copyright 2006, Rockwel Publishing, Inc. Introduction In this lesson, we’ll discuss: l administration of the license law l license requirements l regulation of brokerage office practices l broker’s relationships to principals and salespersons l disciplinary action Copyright 2006, Rockwel Publishing, Inc. The License Law Real Estate Law (also called license law): l passed in 1917 l contains requirements for obtaining/renewing a real estate license l establishes grounds for disciplinary action Real Estate Law is administered by CA Department of Real Estate (DRE) and enforced by DRE Commissioner. Administration
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2 Copyright 2006, Rockwel Publishing, Inc. The License Law DRE Commissioner: l issues/denies licenses l takes disciplinary action for violations l issues regulations to implement the Real Estate Law Commissioner is appointed by Governor and is represented by state Attorney General in legal proceedings. Administration Copyright 2006, Rockwel Publishing, Inc. Real Estate License Requirement The Real Estate Law states that real estate professionals must be licensed: “It is unlawful for any person to engage in the business, act in the capacity of, advertise, or assume to act as a real estate broker or real estate salesman within this state without first obtaining a real estate license from the department [of real estate].” Copyright 2006, Rockwel Publishing, Inc. Real Estate License Requirement Anyone doing the following, for compensation or promise of compensation, is acting as a real estate broker and must be licensed: l sells/offers to sell, buys/offers to buy real property l solicits prospective sellers/purchasers of real property l solicits/obtains listings of real property l negotiates purchase, sale, or exchange of real property Activities requiring a license
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3 Copyright 2006, Rockwel Publishing, Inc. Real Estate License Requirement l leases/rents (or offers to lease/rent) real property l solicits tenants or negotiates for purchase, sale, or exchange of leases l sells, buys, leases, or otherwise negotiates or offers to negotiate the sale, purchase, lease, or exchange of mineral/oil/gas property l
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This note was uploaded on 01/29/2012 for the course REAL 10 taught by Professor Murford during the Spring '11 term at Chabot College.

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Lesson_08 - Printable Lesson Materials Print these...

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