Do I Have A 30-Day Grace Period To Renew My Licensee?

Tue, 29 May 2007 21:19:00 GMT

No. The 30day grace period is for the imposition of a late fee. Example: Your license expires May 31. If you engage in the real estate business without renewing your license on June 1, you subject yourself to disciplinary action. You may however, renew your license within the first thirty days after May 31 without incurring a late fee.

Can I Sell Real Estate Without A Sponsoring Broker?

Tue, 29 May 2007 21:19:00 GMT

No, all real estate salespeople must have a sponsoring broker to maintain an active license and sell real estate.

I Am Starting A Limited Liability Company. Does My Llc Need To Be Licensed?

Tue, 29 May 2007 21:19:00 GMT

Yes. Limited liability companies, corporations, and other legal entities are required to be licensed and a broker of record must be appointed. The broker of record is not required to hold an individual broker's license.

I Am The Holder Of A Salespersons License. Can I Form My Own Have To Be A Licensed Salesperson Before I Can Become A Broker?

Tue, 29 May 2007 21:19:00 GMT

You must have an active salesperson's license for two years and must complete the educational requirements before you apply for a broker's license..

I Hold A Brokers License And Have Numerous Salespeople Affiliated With Me As Salespersons. Am I Responsible For Their Actions?

Tue, 29 May 2007 21:19:00 GMT

Yes. State law states that brokers are equally responsible for the acts or omissions of their salespeople.

I Just Signed A Listing Agreement With A Client. What Is The Time Frame In Which I Have To Give The Client A Copy Of The Listing Agreement?

Tue, 29 May 2007 21:19:00 GMT

State law requires that you shall "deliver immediately" a copy of any listing agreement to any party executing the same

I Received A Listing Through A Connection With A Friend. My Friend Is Unlicensed. Can I Share A Portion Of My Commission With My Friend?

Tue, 29 May 2007 21:19:00 GMT

No. State laws prohibits the sharing of commission or compensation, whether directly or indirectly, with an individual who was not a broker or salesperson when the services were rendered.

Will The State Hold My License For Me Instead Of It Being Held By A Broker?

Tue, 29 May 2007 21:19:00 GMT

No, the State does not "hold" licenses. A licensee can choose to become inactive and then reinstate within two years from the expiration date without testing simply by submitting a reinstatement form with all back license fees and late fees. "