What can the Tennessee Real Estate Commission require as a disciplinary action?

What can the Tennessee Real Estate Commission require as a disciplinary action?

The Commission was created to enforce the Tennessee Real Estate Broker’s Licensing Law of the state. After investigation, the Commission can seek criminal prosecution against those it finds are operating or practicing without a license. It can also seek an injunction to prohibit further unlicensed activities.

How do I report a realtor for unethical behavior?

If you have a complaint against a licensed real estate agent or business, visit California DRE’s website for details on How To File A Complaint, or call the California DRE Public Information Line at (877) 373-4542.

What happens if a realtor violates the code of ethics?

If a Realtor violates the code of ethics, a complaint can be filed and disciplinary action is taken by the Realtor’s local Realtor association. In practice, Realtors are required to abide by the Code of Ethics as a way of doing business.

Which of the following is a responsibility of the Tennessee Real Estate Commission?

The mission of the Tennessee Real Estate Commission is to protect the public through establishment and administration of minimum requirements for candidates and licensees, effective professional education of licensees and enforcement of professional conduct.

What action may the Tennessee Real Estate Commission take against a person who engages in regulated real estate activities without a license?

What action may the Tennessee Real Estate Commission take against a person who engages in regulated real estate activities without a license? Impose a fine of $1,000 per violation.

What is a purged licensee?

The good news is that for really old tickets, the hold will be “purged” after 5 years. This means a ticket that has been holding up your license will no longer be an issue once it is 5 years old.

What is the most common complaint filed against REALTORS?

Most Common Complaints

  • Incomplete and duplicate contracts.
  • No permits.
  • Easement errors.
  • Mineral rights.
  • Failure to review or recommend survey.
  • Contract drafting.
  • Failure to review title.
  • Loss of earnest money.

What are the 3 major sections of the Code of Ethics?

The Code of Ethics is divided into three major sections, “Duties to Clients and Customers,” “Duties to the Public,” and “Duties to REALTORS.”

Can I sue my REALTOR for misrepresentation?

You can’t sue a real estate broker for a bad opinion — in order to win a misrepresentation lawsuit, the misstatement must involve some material fact about the property or the sale that would affect a reasonable person’s decision regarding the purchase.

Which act established the Tennessee Real Estate Commission?

Tennessee Real Estate Broker License Act of 1973
The Tennessee Real Estate Commission (TREC) was created as a result of the Tennessee Real Estate Broker License Act of 1973. TREC is one of several regulatory agencies under the Division of Regulatory Boards within the Tennessee Department of Commerce and Insurance.

In what way s do Tennessee consumers compensate brokers for their services?

In what way(s) do consumers compensate brokers for their services? Consumers generally compensate brokers for their services in the form of a percentage of the sales price of the property, but other options include a flat fee or fee for service.

What action may the Tennessee real estate commission take against?

XYZ Realty. What action may the Tennessee Real Estate Commission take against a person who engages in regulated real estate activities without a license? Impose a fine of $1,000 per violation.

Who regulates the real estate industry in Tennessee?

Tennessee Real Estate Commission Each profession regulated by the Department of Commerce and Insurance must comply with the state laws and statutes in order to maintain a license. Here you will find information pertaining to those rules and laws.

What does the Tennessee real estate commission do?

Created in 1951, The Tennessee Real Estate Commission licenses, registers and regulates real estate brokers and affiliate brokers, real estate firms, rental location agents, time-share salespersons and developments, vacation clubs and vacation lodging services.

Who do I contact for any questions about TREC?

If you have any questions, please contact TREC staff at [email protected]. Thank you for your cooperation.