Division Of Real Estate Newsletter – Fourth Quarter 2019
July 1, 2019
Kagie’s Korner – Written Agency Agreements are Required (Agreements/MLS): Pages 4 & 5 talk about how to avoid implied agency and the liability that comes along with it by simply getting your work agreements down in writing when helping out a client. Rules R162-2f-401a (2), R162-2f-401a (6), and 61-2f-308 (1) are highlighted. It also talks about rule R162-2f-401a (3) which outlines requirements when representing both a buyer and seller.
Update on Real Estate Rules (Licensing/Continuing Education): Page 6 details an update regarding the rules for Real Estate Licensing: On April 11, 2019, the Division filed a proposal to amend the Real Estate Licensing and Practice Rules by adding a mandatory three-hour CE course for an applicant seeking to renew a real estate license after January 1, 2020. The mandatory course does not add additional hours of continuing education for renewal and the required course satisfies three hours of core course hours required under the prior existing rule. This amendment became effective June 19, 2019.