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Section 16: Delaware License Laws, Rules, and Regulations Questions and Answers Already Passed
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Section 16: Delaware License Laws, Rules, and Regulations Questions and Answers Already Passed
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Section 16: Delaware License Laws, Rules, and Regulations Questions and Answers Already Passed The Delaware Real Estate Commission - ✔✔The Delaware Real Estate Commission is the ultimate enforcer of real estate laws and regulations in Delaware. Commission Members and Qualifications - ✔✔-Composed of nine members, all appointed by the governor. -All commission members must have resided in Delaware for 5 or longer directly prior to their appointment. -Of the 9 members, 5 are real estate professionals: 3 brokers (one from each county), 1 associate broker, and 1 salesperson: -The brokers and associat e broker must have held active licenses for 5 or more years -salesperson must have held an active license for 4 or more years. -The governor appoints the remaining 4 members from the public at large: one from each county and the last from Wilmington. -In the 8 years prior to appointment, no public member or an immediate family member may have held a real estate license, worked for a broker or brokerage, had financial interests in any business goods or services provided to licensees, or in any way be direc tly connected to the real estate industry. -Further, none of the 9 members may serve as an elected official or in a leadership capacity of any other professional association of the real estate industry. Service Terms - ✔✔-Commission members serve a three -year term and may be reappointed to serve an additional term. In case of a vacancy, the governor may appoint someone to serve the remainder of the vacating member's term. -Members earn $50 per meeting they attend, up to a maximum of $500 (or 10 meetings) annually. Order and Meetings - ✔✔-Each year, members will elect a chairperson, vice chairperson, and a secretary to serve for one year only. This election should be held the same month annually. -Business meetings should be held regularly and at least onc e per quarter. The chairperson or a majority of members may call for extra meetings as necessary. Special meetings require a quorum to attend. -Copies of recorded meeting minutes will be provided to the Division of Professional Regulation, which oversees t he real estate commission. Meetings that serve as hearings at which evidence will be given are required to be recorded in such a way that a verbatim transcript may be made. The person who requested the hearing must pay for the transcript's preparation. Suspension and Dismissal - ✔✔-The governor has the authority to suspend or dismiss members on the grounds of misfeasance, neglect of duty, misconduct, incompetence, unprofessional behavior, and the like. Neglect of duty includes three consecutive meeting abs ences without adequate reason, as well as the failure to attend more than half of the regular meetings during one calendar year. -Members under investigation in disciplinary hearings will be suspended from commission business until the matter is satisfacto rily resolved. They've Got the Power: Delaware Real Estate Commission - ✔✔The Delaware Real Estate Commission's main purpose is to protect the public with regard to real estate services. Unsafe or unfair practices, diminished competition that limits consumer choices, and the like not only harm Delaware citizens, but they also harm the entire real estate profession. To keep things on the up and up, the commission oversees real estate activities throughout the state. Duties and power of the commission - ✔✔-Developing stand ards for the industry -Creating rules and regulations -Granting and renewing licenses -Conducting audits -Monitoring complaints -Conducting formal hearings and imposing sanctions Licensure - ✔✔-The commission has the power to develop licensure qualificati ons and to evaluate candidates based on these criteria. The commission then both grants and renews licenses of candidates who meet the requirements. Applicants' certified records may be assessed for evidence of unfair or illegal practices and other offense s before license approval. -Pre-licensing and continuing education standards also fall under the commission's authority, which includes licensing examinations. It's the commission's duty to select a nationally recognized testing service to conduct exams. A commission -appointed committee may evaluate any exams to make sure the content aligns with state rules and regulations. -License renewal applicants may be subject to continuing education credit audits. Complaints - ✔✔-When a consumer or another licensee lodges a complaint against a licensee, the commission refers the complaint to the Division of Professional Regulation for an investigation. A commission member will be assigned to assist with the investigation. -Once the investigation is complete, the comm ission may hold a hearing and, depending on the hearing's outcome, enact sanctions or other penalties against the licensee who's in error. When appropriate, the commission may also arrange for the wronged party to receive some sort of recompense from the R eal Estate Guaranty Fund. -The licensee or licensee's attorney must have 24 hours' notice at minimum before the proposed suspension takes place and may file a written response. The temporary suspension may only last 60 days unless there's a hearing date. T hen it remains in effect until a decision is made. The licensee on temporary suspension may also ask for an expedited hearing. Fees - ✔✔The commission may charge fees, such as: -License application or renewal -License change or reinstatement -Reciprocal license -Guaranty fund support Fee amounts are set to offset commission and division expenses, and all fees are assessed separately. Every two years, the division (or another state agency acting on behalf of the division) calculates fees for the coming ye ar. None of the nine members may serve as an ..... - ✔✔elected official or in a leadership capacity of any other professional association of the real estate industry. In the last eight years prior to appointment, no public members or their immediate fami ly members may have held... - ✔✔a real estate license or been in any way directly connected to the real estate industry.The benefits of buying summaries with Stuvia:
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