Unit 5 Flashcards
Sponsoring Brokers
A sponsoring broker means the broker who certifies to the Department his, her, or its sponsorship of a licensed managing broker, a broker, or a residential leasing agent. The sponsoring broker entity must be licensed and may be self-sponsored. There may be only one sponsoring broker for any one real estate company. A sponsoring broker may authorize a designated managing broker to register sponsored licensees with the Department.
Likewise, the sponsoring broker may assign escrow account bookkeeping duties to a qualified company employee or an independent contractor and may delegate authorized individuals to sign on behalf of the sponsoring broker. The sponsoring broker may authorize company personnel to sign contracts entered into by the sponsoring broker, according to the sponsoring broker’s company policy. Even though the sponsoring broker may delegate authority, the sponsoring broker is ultimately responsible for all activities.
Designated Managing Brokers
A broker who has supervisory responsibilities for licensees in one or, in the case of a multi-office company, more than one office and who has been appointed as such by the sponsoring broker.
Junk Fax Prevention Act
The Junk Fax Prevention Act prohibits faxing unsolicited fax advertisements or solicitations, but does allow for an established business relationship exception.
CAN-SPAM Act
The CAN-SPAM Act establishes requirements for commercial email, spells out penalties for email senders who violate the Act, and gives consumers the right to have emailers stop sending emails to them. The Act is enforced by the FTC and the Department of Justice with fines levied per transgression.
National Do Not Call Registry
The National Do Not Call Registry is a list of consumer telephone numbers that do not want to be contacted by businesses who sell goods or services. Violators are subject to fines for each illegal call placed.
