The Tennessee Real Estate Broker License Act of 1973 - ✔✔ Regulates the Real Estate industry to protect the public from irresponsible or
... [Show More] unscrupulous persons dealing in real estate
The Tennessee Consumer Protection Act - ✔✔ Regulates fair trade practices.
The Tennessee Human Rights Act - ✔✔ Regulates discriminatory housing practices.
The mission of the Tennessee Real Estate Commission is - ✔✔ To protect the public, establish minimum requirements for candidates and licensees, effective professional education of licensees, and enforcement of professional conduct.
The Tennessee Real Estate Commission - ✔✔ Established in 1951 is the State Regulator of real estate licensees. It is a judicial body, and its members are immune from civil liabilities, as long as they perform their duties in good faith. If an action is filed against them, they are defended by the attorney general of the state.
The Tennessee Real Estate Commission licenses and registers - ✔✔ Real estate brokers and affiliate brokers, real estate firms, rental location agents, time-share salespersons and developments, vacation clubs and vacation lodging services
The Tennessee Real Estate Commission Enacts - ✔✔ Rules addressing professional conduct and standards of practice, conducts hearings concerning violations of the Act, and imposes penalties. Administers a Real Estate Recovery Fund for the protection of the public. May not set fees or commissions for real estate contracts or transactions.
Tennessee Real Estate Commissioners are appointed by the governor for a term of - ✔✔ Five years.
The Tennessee Real Estate Commission consists of how many members? - ✔✔ Nine members: Three members each from the eastern, middle and western grand divisions of the state. Seven members who have been a broker or affiliate broker for at least five years, and two members from outside the real estate industry or real estate development. These two must reside in different grand divisions of the state. Every member must be a resident and be of good moral character.
Tennessee Real Estate Commission Administration - ✔✔ A chair and a vice chair are selected from among its members. An executive director, who has passed the broker's exam, is appointed for a term of four years.
Tennessee Real Estate Commission director of education - ✔✔ A full-time appointment, the director of education must be a college graduate.
Tennessee Real Estate Commission Powers - ✔✔ oversee licensing process; enforces license law provisions; handles consumer and licensee complaints; consists of appointed commissioners and permanent support
staff; maintains education and research foundation
Tennessee Real Estate Commission Uniform Administrative Procedures Act - ✔✔ Hearings and judicial review of any contested case of violation of the act are governed by the provisions of the Uniform Administrative Procedures Act
Before refusal, suspension or revocation of a license Tennessee Real Estate Commission must - ✔✔ notify the accused applicant or licensee in writing of its receipt of a complaint.
The accused applicant or licensee has how may days to file an answer to the complaint with Tennessee Real Estate Commission and the complainant. - ✔✔ ten
Tennessee Real Estate Commission investigates and determines - ✔✔ whether to set a hearing. If it decides the complaint is improper, or there is no reasonable cause that the violation occurred, it will publish an order to that effect.
A majority vote of Tennessee Real Estate Commission must be reached to - ✔✔ revoke or suspend a license. If the complainant has also filed a complaint in a court of law, and the matter is pending, the Commission may withhold its decision until the court action has been concluded.
On receipt of a verified complaint in writing, charging a licensee with a violation, the Commission may - ✔✔ investigate, and hold a hearing for reprimand, or for the suspension or revocation of a license.
A complaint to the Tennessee Real Estate Commission must be filed within - ✔✔ two years from the date of the alleged violation, or the complainant's discovery of the violation. Or, the applicable statute of limitations, if the violation also constitutes a criminal offense. Or, ten days after successful prosecution of the violation as a criminal offense.
The Tennessee Real Estate Commission has the authority to Suspend, revoke or downgrade a license if - ✔✔ a party sues a licensee in a competent court, claiming injury from the licensee's actions as a licensed real estate professional, and if the party obtains a judgment or decree
If a court, revokes a licensee's license - ✔✔ The revoked license cannot be reissued unless six members of the Tennessee Real Estate Commission vote to reissue it.
If a licensee pleads guilty, or is convicted of any offense listed in the License Act, the licensee must - ✔✔ notify theTennessee Real Estate Commission within sixty days of the conviction. And, provide certified copies of the conviction.
The licensee's license is automatically revoked sixty days after a - ✔✔ licensee's conviction, unless the licensee makes a written request to the Tennessee Real Estate Commission for a hearing, during that sixty-day period. Following a hearing, the Commission may impose any sanction permitted by the Licensing Act.
If the Commission finds a licensee has obtained a license by false representation, fraudulent act, or conduct, or is guilty of one of the prohibited acts under the Licensing Act, the Commission may - ✔✔ refuse to issue the license, suspend or revoke the license. The Commission may also order the downgrading of a broker's license to "affiliate broker" status.
If the Commission revokes or suspends a license or a licensee surrenders a real estate license - ✔✔ Any school or instructor approval which the licensee holds, is also revoked.
Anyone who acts as a broker, affiliate broker, time-share salesperson or acquisition agent without the appropriate license has committed a - ✔✔ Class B misdemeanor.
A person who violates the license requirement is liable for - ✔✔ Any money received for the illegal services, and as much as three times the amount, as determined by a competent court.
If the violator is a corporation - ✔✔ the corporation is ineligible to be licensed for a year following conviction.
The Commission may, in a lawful proceeding, - ✔✔ assess a civil penalty for each separate violation of a statute, rule, or order pertaining to the Commission. The schedule of penalties ranges from fifty dollars to one thousand dollars per violation. [Show Less]