Delaware License Laws, Rules, and Regulations Unit 1-4 Section 16 Newest 2024 Questions and Answers Latest (2024 / 2025) (Verified Answers)
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Delaware Real Estate
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Delaware Real Estate
Delaware License Laws, Rules, and Regulations Unit 1-4 Section 16 Newest 2024 Questions and Answers Latest (2024 / 2025) (Verified Answers) The Delaware Real Estate Commission: The Delaware Real Estate Commission is the ultimate enforcer of real estate laws and regulations in Delaware.
2. Commis...
Section 16 Delaware License Laws, Rules, and Regulations Unit 1-4.pdf file:///C:/Users/HP/Desktop/New%20folder%20(2)/Section%2016%2
Section 16 Delaware License Laws, Rules,
and Regulations unit 1-4
1. The Delaware Real Estate Commission: The Delaware Real Estate Commis-
sion is the ultimate enforcer of real estate laws and regulations in Delaware.
2. 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 associate 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.
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-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 directly 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.
3. 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.
4. Order and Meetings: -Each year, members will elect a chairperson, vice chair-
person, 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 once 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
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Regulation, which oversees the 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.
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5. 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 absences 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 com-
mission business until the matter is satisfactorily resolved.
6. 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.
7. Duties and power of the commission: -Developing standards for the industry
-Creating rules and regulations
-Granting and renewing licenses
-Conducting audits
-Monitoring complaints
-Conducting formal hearings and imposing sanctions
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