Real estate kansas stuvia Study guides, Class notes & Summaries

Kansas Association of Realtors KAR - ANSWER-professional trade association that provides a wide variety of programs and services Kansas Real Estate Commission (KREC) - ANSWER--governs real estate licenses and how they are earned and maintained -approval of schools -insures the public is treated fairly Real Estate - ANSWER-land and anything artificial attached to it Who is required to have a license - ANSWER-anyone who receives compensation for direct involvement in the process of buyi...

Activities requiring a license - ANSWER-Compensation to do 1) Sell 2) Purchase 3) Lease COMMERCIAL property 4) Auction OR assist by procuring bids Activity NOT requiring a license in Kansas - ANSWER-Residential leasing OR 1) FSBO 2) Attorney performing attorney's duties for hourly fee, NOT commission 3) Person acting under court's authority, ie. trustee 4) Gov officers performing gov duty 5) Railroad/Utilities on GROSS EASEMENTS 6) Employees that own minimum 5% corporate stock 7...

Who is required to have a license? - ANSWER-anyone who receives compensation for direct involvement in the process of buying, selling, or exchanging real estate (other than their own) NOTE: Kansas does not require a license to do residential rental Real estate includes... - ANSWER--freehold estates -non-freehold estate (leasehold) People exempt from licensing requirements... - ANSWER--Owner dealing with their own property -someone acting under power of attorney -Person acting u...