Real Estate

Real Estate Law 103

admin 2019.05.17 18:07 Views : 477

  1. List three parties exempt from real estate licensing requirements in California. (Additional correct answers on page 9.) 
    • The employees of banks or other lending institutions
    • Cemetery authorities
    • Short-term (vacation) rental agents
       
  2. What is California’s policy regarding compensation for an unlicensed person acting in the capacity of a real estate salesperson?

    That individual cannot receive any compensation for such acts.
     
  3. If a broker authorizes an unlicensed person to act in the capacity of a licensed salesperson, including providing compensation for real estate services, who will be disciplined under the law?

    Both the unlicensed person and the broker
     
  4. What are the penalties for engaging in unlicensed real estate activity?

    The penalties for engaging in unlicensed real estate activity are a fine of up to $20,000 and/or six months imprisonment for an individual, and a fine up to $60,000 for a corporation.
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