One of the most common occurrences of mishandling client finances unfolds when an agent deposits the money from a real estate sale into their personal account as opposed to the title company account.
Which would be considered the unauthorized practice of law by a real estate agent?
The unauthorized practice of law is performing legal services, creating legal documents, or offering legal advice as a person who is unlicensed, disbarred, or with no bar admission authorizing an individual to be able to do so. A real estate agent, for example, is not allowed to offer legal opinions to clients.
Can a felon get a real estate license in Alaska?
Your real estate license application will ask you to disclose any prior criminal activity to the Alaska Real Estate Commission. You should provide details as part of the application process. You cannot be under indictment for a felony or any crime that would impact your ability to competently practice real estate.
How hard is it to get a real estate license in Alaska?
Becoming a licensee is fairly easy in Alaska compared to most states. You'll just need to complete 40 hours of coursework from an approved education provider, like a real estate school or community college. Even better, you can generally complete your licensing requirements, including all of your education, online.
What is often the first step in the process of a salesperson losing his or her license?
The same procedure that governs all criminal convictions as a basis for license discipline must be followed even in this circumstance. This means that DRE must first file an accusation against the individual.
What does referral status mean in real estate?
Real estate referral agents are licensed real estate professionals who connect other agents with prospective clients. This can be an effective way of acquiring motivated leads. However, as a real estate agent, you'll have to part with some of your commission as a way to thank the referral agent for their help.