Dcrec - Study guides, Class notes & Summaries

DCREC - Answer Real Estate law in DC is created bt City Council and enforced by the District of Columbia Real Estate Commision (DCREC) DCREC job - Answer - Creates the *rules and regulations* concerning real property and land interest including condos, co-ops, leases, and time-share - Has the authority to *issue and revoke licenses*, implement DC law, and establish a code of conduct - *Approves schools* and training center, sets licensing fees, and administers the Real Estate Guaranty F...

Real estaet law in DC is created by___________and enforced by_____________ - Answer City Council; DC Real Estate Commission The DC Real Estate Commission is part of the________________________ - Answer DC Department of Consumer and Regulatory Affairs DCREC... - Answer creates the rules and regulations concerning real property and land interests including condos, co-ops, leases and time shares The DC Real Estate Commission has the authority to (3 things) - Answer 1. Issue or revoke licen...

A broker's license could be revoked for which of the following? correct answers Quoting a price below the listed price to a prospective purchaser. Members of the Real Estate Commission include: correct answers 2 licensed salespersons with at least 5 years experience One day after an exclusive right-to-sell listing agreement has expired, a salesperson who works for the listing broker buys the property. Which of the following is true in this situation? correct answers This is proper providi...

Minimum and Maximum Balance of the Guaranty & Education Fund $1,040,000 $5,000,000 The certificate filed with the Real Estate Commission to license a real estate partnership must contain all of the following The names of the partners, The residence address of all partners The percentage of each partners ownership Misreprentation of a material fact which results in a loss is fraud If you do not agree with a penalty imposed by the DC Real Estate Commission, as a licensee you can Appeal...

DC Real Estate Law is created by The City Council and is enforced by the DCREC Commission consists of how many members? 9 members Commission members are appointed by the? Mayor with the advice and consent of the DC City Council Goal of the Commission To protect the public from incompetent and fraudulent practices Commission member consists of? 3 Brokers, 2 Salespersons, 2 Property Managers, 1 Real Estate Attorney, 1 Consumer Member Commission Member Terms ...

DC Real Estate Law is created by - Answer The City Council and is enforced by the DCREC Commission consists of how many members? - Answer 9 members Commission members are appointed by the? - Answer Mayor with the advice and consent of the DC City Council Goal of the Commission - Answer To protect the public from incompetent and fraudulent practices Commission member consists of? - Answer 3 Brokers, 2 Salespersons, 2 Property Managers, 1 Real Estate Attorney, 1 Consumer Member Comm...

DC Real Estate Law is created by - ANSWER-The City Council and is enforced by the DCREC Commission consists of how many members? - ANSWER-9 members Commission members are appointed by the? - ANSWER-Mayor with the advice and consent of the DC City Council Goal of the Commission - ANSWER-To protect the public from incompetent and fraudulent practices Commission member consists of? - ANSWER-3 Brokers, 2 Salespersons, 2 Property Managers, 1 Real Estate Attorney, 1 Consumer Member Comm...

Real Estate Law in D.C. is created by; City Council Real Estate Law in D.C. is enforced by; D.C. Real Estate Commission (DCREC), part of D.C. Department of Consumer & Regulatory Affairs. DO NOT CONFUSE with GCAAR (Greater Capital Area Association of Realtors DCREC has the authority to; issue or revoke licenses, implement D.C. law, and establish and enforce a Code of Ethics for real estate brokers, associate brokers, salespeople, and property managers. DCREC also approves school...

DCREC Real Estate law in DC is created bt City Council and enforced by the District of Columbia Real Estate Commision (DCREC) DCREC job - Creates the rules and regulations concerning real property and land interest including condos, co-ops, leases, and time-share - Has the authority to issue and revoke licenses, implement DC law, and establish a code of conduct - Approves schools and training center, sets licensing fees, and administers the Real Estate Guaranty Fund. - Protect ...

Purpose of the DC Real Estate Commission To protect the public from incompetent and fraudulent practices Commission Members 9 members. 3 real estate brokers. 2 salespersons. 2 Property Managers. 1 attorney. 1 consumer member. Commission terms 3 years. Max of 3 consecutive 3 year terms commission membership Requirements Active license in DC. Actively engaged in their field at least for the 5 years prior to appointment and remain active during appointment. Do no rece...