An Authorized broker may not disclose confidential information to clients or to designated agents. An authorized broker may not reveal information to the client or to another person appointed to be the client’s representative if the client has designated that information as confidential. In addition, an authorized broker may not reveal information that is disclosed by law or by this section if the information was made confidential by the client. A broker-in-charge may not reveal confidential information to a client, designated agent, or other person who was a client’s agent.
Limitation of licensees
In Virginia, the limitation of licensees for authorized brokers was passed to prevent the proliferation of unlicensed real estate professionals. Generally, a broker who has been inactive for three years must complete prelicense education requirements before applying for a license. However, in certain instances, a broker who has been inactive for three years is still eligible for a license. Listed below are the specific disciplinary rules that govern license renewal fees.
Continuation of education requirements
The NPRM proposes to establish the Continuation of Education Requirements for Authorized Brokers. This requirement requires an individual broker to complete 36 hours of continuing education every three years, with certain exceptions. The proposed framework will address the selection of accreditors and other aspects of the administration of the requirement. Brokers who voluntarily suspend their registration for three years or more would be subject to a prorated requirement of one credit per month.
Termination of licensees
Under California law, the department of licensing has the authority to suspend or terminate a broker’s license. To terminate a license, the department of licensing can serve a written notice through certified mail or any other method authorized by the Civil Practice Law. The department of licensing must notify the broker, and a hearing will be held to determine whether the charges are true. The department will also prescribe the time and place for the hearing, and the license may be suspended or revoked.
Notice to former broker-in-charge or property manager-in-charge
The SC Real Estate Commission has updated its background check requirements. This new requirement applies to all applicants and is being implemented to ensure a fair process for all parties involved in a real estate transaction. The Commission processes applications in order of receipt, so any deficiencies, criminal history, or disciplinary history may delay the processing time. To expedite the processing time, use the Online Transfer Service, which enables you to make changes without signing the document. You will receive an email notification from the Broker-in-Charge of any changes.
Continuing education requirements for out-of-state broker
The Continuing Education (CE) requirement is designed to help brokers maintain their license. This requirement requires licensees to complete 15 hours of continuing education every two years, with at least three of those hours being in a course on real estate law. Continuing education courses must cover a subject approved by the Commission. This law is effective July 1, 2021. For out-of-state brokers, meeting CE requirements is a relatively easy process.