California Department of Real Estate (DRE)Latest Update 2023

DRE - ANSWERAdministers and enforces real estate laws and regulation. Business and Professions Code - ANSWERCalifornia code that contains the Real Estate Law, which includes real estate licensing, transaction requirements, and Subdivided Lands Law. Sections Real Estate Law Sections Subdivided Land Laws What can you do on the DRE website? - ANSWERCheck results Obtain current testing schedule Renew salesperson and broker licenses Change salesperson's employing broker Filing mailing address changes Request continuing education extension/exemption Commission Regulation 2770 - ANSWERLicensees who advertise on the Internet are required by law (B&P Sections 10235.5 and 10140.6) to indicate their license status. See also Commissioner's Regulation 2770. False or misleading advertising can result in administrative, civil and/or criminal penalties. What is the DRE mission? - ANSWERTo protect the public in real estate transactions and provide related services to the real estate industry. What is the General Fund? - ANSWER"The operating fund of the governmental unit Records Significant Revenues: Taxes; Tickets; Fines; Licenses Records Significant Expenditures: Police; Education; Fire Dept" General Fund - ANSWERAccount that holds all of the money collected from license and exam fees and used for the operating expenses of the DRE. 20% of the general fund -8% teal estate education and research find -12a% for the recovery fund Recovery Fund - ANSWERReserve of funds collected from real estate license fees to pay for losses to clients legally judged to have been caused by a licensed salesperson or broker. Applicant must file within 1 year of final judgement