Alabama Salesperson Pre-Licensing Course Exam Prep: AL Real Estate Commission, Licensing, Regulations, and Practice Flashcard Set
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Course
Alabama Salesperson Pre-Licensing Course
Institution
Alabama Salesperson Pre-Licensing Course
Alabama Salesperson Pre-Licensing Course Exam Prep: AL Real Estate Commission, Licensing, Regulations, and Practice Flashcard Set
Purpose of license laws
Protect consumers from unprofessional practices
The four areas of real estate law
Contracts, general property, agency, and state-specific l...
alabama salesperson pre licensing course exam prep al real estate commission
and practice flashcard set purpose of license laws protect consumers from unprofessional practic
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Alabama Salesperson Pre-Licensing Course Exam
Prep: AL Real Estate Commission, Licensing,
Regulations, and Practice Flashcard Set
Purpose of license laws
Protect consumers from unprofessional practices
The four areas of real estate law
Contracts, general property, agency, and state-specific license laws
Alabama real estate recovery fund
Compensates consumers who are awarded a judgment for fraud, deceit, or
misrepresentation in a real estate transaction and have exhausted all other remedies to
collect
Alabama Real Estate Commission (AREC)
Created in 1928 to administer real estate license law in Alabama
Total number of commission members
Nine
License law violations
Misrepresentation or false promises, fraud, improper disclosure, improper document
and record keeping, net listings, and prohibited compensation practices
An investigation may include
Subpoenas, witness testimony, and a request for documents and records
Disciplinary actions the commission may invoke
Reprimands, license revocation or suspension, fines between $100 and $2,500, or both
revocation/suspension and fines
Permitted licensee actions at a hearing
Give testimony, examine witnesses, and engage an attorney
Rehearing conditions
When a final decision is arbitrary, unreasonable, careless, in violation of a legal
provision or a commission rule, outside the commission's legal authority, influenced by
unlawful procedures, or opposed to reliable evidence
Circuit court's options with commission appeals
Affirm, reverse, or modify the commission's decision, or return the case to the
commission for further proceedings
Licensee initial or assessment fee for the recovery fund
$30
Alabama real estate license statuses
Active, inactive, suspended, revoked, or expired
License renewal deadline
August 31 of even-numbered years
Continuing education requirements
15 hours by be completed by September 30 of the license period (currently even-
numbered years)
Post-licensing education rules for active licensees
30 hours of PLE within the first six months of licensure
Consequence for failing to take required post-licensing education hours
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