A real estate license is required when acting as a broker as defined in Neb. Rev. Stat. §81-885.01(1), which specifically states: “Broker means any person who, for any form of compensation or consideration or with the intent or expectation of receiving the same from another, negotiates or attempts to negotiate the listing, sale, purchase, exchange, rent, lease, or option for any real estate or improvements thereon, or assists in procuring prospects or holds himself or herself out as a referral agent for the purpose of securing prospects for the listing, sale, purchase, exchange, renting, leasing, or optioning of any real estate or collects rents or attempts to collect rents, gives a broker's price opinion or comparative market analysis, or holds himself or herself out as engaged in any of the foregoing. Broker also includes any person: (a) Employed, by or on behalf of the owner or owners of lots or other parcels of real estate, for any form of compensation or consideration to sell such real estate or any part thereof in lots or parcels or make other disposition thereof; (b) who auctions, offers, attempts, or agrees to auction real estate; or (c) who buys or offers to buy or sell or otherwise deals in options to buy real estate” Show
Licensees sometimes need verification of their licensed status. You may use the Request for Certification of Licensure Form, and submit it to our office. Follow the instructions either on the form or on our website at https://nrec.nebraska.gov/licensing-forms/licensehistory.html. Please allow approximately seven to ten business days for the Commission to process your request.
Which of the following is not true regarding compensation and Maryland licensees?Which of the following is NOT true regarding compensation and Maryland licensees? Licensees may not accept compensation from more than one transaction party without all parties' knowledge.
What body sets ethical standards that must be observed by all Maryland real estate licensees?Maryland Real Estate Commission (MREC) - Division of Occupational and Professional Licensing.
Which of the following is a true statement about possible penalties imposed by the commission for a violation of the Maryland Code of Ethics?Which of the following is a true statement about possible penalties imposed by the commission for a violation of the Maryland Code of Ethics? The commission may reprimand, impose fines, suspend and revoke licenses, but it may not impose prison sentences.
Who must abide by the code of ethics enforced by the Maryland real estate commission?All Maryland real estate licensees (real estate agents and brokers) are bound by the Maryland Code of Ethics (COE), which is monitored by the Maryland Real Estate Commission. (The Maryland Code of Ethics can be found in the Code of Maryland Regulations (COMAR) under Subtitle 11: Real Estate Commission.)
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