General - Chapter 11 Lesson 3 Flashcards
(15 cards)
Activities requiring a license
sale of real property, leasing or renting of real property, property management, real estate auctions, and property development and construction
you do not need a real estate license to manage or lease —— property in KS
residential
phrase that indicates needing license
“for others, for compensation”
Engaging in real estate transactions without a license may result in…
legal penalties, no legal protection, consumer harm, damaged reputation, civil lawsuits, and transaction risk
a person performing real estate activities under a power of attorney
is exempt from licensing requirements
salesperson requirements
18, diploma, relicensing education, completed application, exam, fee, affilliation
previous disciplinary actions may result in…
more documentation to get license
broker license requirements
18, salesperson for last 2/3 yrs, diploma, prelicensing education, application, exam, fees, company information
minimum passing score
70%
required to renew license
biennially (*every 2 years)
can you practice real estate with a lapsed license
no
steps of renewing active real estate license
continuing education (12 hours, 3 course titled KS required course, 9 elective) submit a renewal application plus fees, submit to a background check and provide confirmation
if the license was on inactive status for less than 2 years
remaining hours must be completed r]prior to reactivation
inactive for 2+ years
6 hours of CE must be completed for each full year on inactive status in addition to the 12 hours required for the immediate past renewal period
5+ years
candidate must retake and pass the licensing exam in addition to completing the education requirements listed above
