CHARLES BARNES REAL
ESTATE
If OREC revokes a license, how much time must pass before
reinstatement can occur & what is the status of the former licensee?
605:10-7-2 - ANSWERS-3 years from the effective date of license
revocation.
What must a licensee do to renew a license regarding continuing
education? 605:10-7-2 - ANSWERS-Must submit evidence that they
have completed the continuing education requirements enumerated in
Section 858-307.2 of Title 59.
If a sales associate obtains a broker license, what happens to the
unexpired time on the sales associate license? 605:10-7-2 -
ANSWERS-The fee shall be credited to the broker license fee.
Within how many days must a licensee file with OREC of a change in
name or firm? 605: 10-7-5 - ANSWERS-10 days
What must accompany a name change filing with the OREC? -
ANSWERS-Return the license certificate to the Commission office
along with the request for such name change.
What is the OREC fee to change a license - ANSWERS-$25
,If a licensee requests a certified license history, what is the OREC
fee? 605:10-7-6 - ANSWERS-$15
What is the status of each branch office? 605:10-7-7 - ANSWERS-
To where would a licensee's license be issued & displayed? 605:10-7-
7 - ANSWERS-An associate's license shall be issued to 7 maintained
in the office to which the associate is assigned.
Within how many days must a new branch office broker be
appointed? 605:10-7-7 - ANSWERS-10 days
How may a branch office use a name different than the main office?
605:10-7-7 - ANSWERS-May use a different name as long as the
broker registers the name(s) with the Commission.
What must each broker maintain? 605:10-9-1 - ANSWERS-Shall
maintain a specific place of business, and supervise a brokerage
practice which is available to the public during reasonable business
hours.
Whose licenses must a broker maintain? 605:10-9-1 - ANSWERS-
Each associate's license shall be issued to & available upon request in
the office to which the associate is assigned whether that be the main
place of business or branch office.
,What is the minimum size a construction of a broker's office? 605:10-
9-1 - ANSWERS-
What does OREC say about an office in a broker's residence? 605:10-
9-1 - ANSWERS-The office may be in the residence of a broker.
How can a broker be a broker for more than one firm at a time?
605:10-9-1 - ANSWERS-A broker may be the broker for more than
one firm so long as the firms are at the same location.
For whom is the broker responsible? 605:10-9-1 - ANSWERS-A
broker is responsible for all real estate related activities of any
unlicensed assistant working within the firm.
What is the requirement for office identification? 605:10-9-2 -
ANSWERS-Erect & maintain a sign on or about the entrance of the
office. Sign shall be easily observed & read by person about to enter
the office.
Broker office signs must have letters at least what size? 605:10-9-2 -
ANSWERS-No less than 1 inch
When must trade names be registered? 605:10-9-3 - ANSWERS-All
names used in connection with real estate activities prior to the trade
name being advertised or displayed in any way.
, What is the first requirement for advertising real estate? 605:10-9-4 -
ANSWERS-Must use their registered business trade name or the
name under which the broker is licensed.
What is the restriction regarding contact information in an
advertisement? 605:10-9-4 - ANSWERS-Must indicate that the party
is a real estate broker & not a private party, to include, but not limited
to, "agency", "company" , "realty", or "real estate", as the case may
be.
What must a property owner (or representative) do before advertising
real estate? 605:10-9-4 - ANSWERS-
How may a licensee engage in social media as a Realtor? 605:10-9-4 -
ANSWERS-A licensee who is engaged in licensed activities through
social networking mediums must indicate their license status &
include their broker's reference as required elsewhere in this rule.
When can a licensee place a yard sign on a property? 605:10-9-4 -
ANSWERS-Once they have secured the permission of the owner or
the owner's authorized representative & said permission has a definite
date of expiration.
When & how may a licensee promote a seller incentive? 605:10-9-4 -
ANSWERS-Must have consent from the seller. The promotion only
applies to the seller's particular property.
How may associates advertise? 605:10-9-4 - ANSWERS-
ESTATE
If OREC revokes a license, how much time must pass before
reinstatement can occur & what is the status of the former licensee?
605:10-7-2 - ANSWERS-3 years from the effective date of license
revocation.
What must a licensee do to renew a license regarding continuing
education? 605:10-7-2 - ANSWERS-Must submit evidence that they
have completed the continuing education requirements enumerated in
Section 858-307.2 of Title 59.
If a sales associate obtains a broker license, what happens to the
unexpired time on the sales associate license? 605:10-7-2 -
ANSWERS-The fee shall be credited to the broker license fee.
Within how many days must a licensee file with OREC of a change in
name or firm? 605: 10-7-5 - ANSWERS-10 days
What must accompany a name change filing with the OREC? -
ANSWERS-Return the license certificate to the Commission office
along with the request for such name change.
What is the OREC fee to change a license - ANSWERS-$25
,If a licensee requests a certified license history, what is the OREC
fee? 605:10-7-6 - ANSWERS-$15
What is the status of each branch office? 605:10-7-7 - ANSWERS-
To where would a licensee's license be issued & displayed? 605:10-7-
7 - ANSWERS-An associate's license shall be issued to 7 maintained
in the office to which the associate is assigned.
Within how many days must a new branch office broker be
appointed? 605:10-7-7 - ANSWERS-10 days
How may a branch office use a name different than the main office?
605:10-7-7 - ANSWERS-May use a different name as long as the
broker registers the name(s) with the Commission.
What must each broker maintain? 605:10-9-1 - ANSWERS-Shall
maintain a specific place of business, and supervise a brokerage
practice which is available to the public during reasonable business
hours.
Whose licenses must a broker maintain? 605:10-9-1 - ANSWERS-
Each associate's license shall be issued to & available upon request in
the office to which the associate is assigned whether that be the main
place of business or branch office.
,What is the minimum size a construction of a broker's office? 605:10-
9-1 - ANSWERS-
What does OREC say about an office in a broker's residence? 605:10-
9-1 - ANSWERS-The office may be in the residence of a broker.
How can a broker be a broker for more than one firm at a time?
605:10-9-1 - ANSWERS-A broker may be the broker for more than
one firm so long as the firms are at the same location.
For whom is the broker responsible? 605:10-9-1 - ANSWERS-A
broker is responsible for all real estate related activities of any
unlicensed assistant working within the firm.
What is the requirement for office identification? 605:10-9-2 -
ANSWERS-Erect & maintain a sign on or about the entrance of the
office. Sign shall be easily observed & read by person about to enter
the office.
Broker office signs must have letters at least what size? 605:10-9-2 -
ANSWERS-No less than 1 inch
When must trade names be registered? 605:10-9-3 - ANSWERS-All
names used in connection with real estate activities prior to the trade
name being advertised or displayed in any way.
, What is the first requirement for advertising real estate? 605:10-9-4 -
ANSWERS-Must use their registered business trade name or the
name under which the broker is licensed.
What is the restriction regarding contact information in an
advertisement? 605:10-9-4 - ANSWERS-Must indicate that the party
is a real estate broker & not a private party, to include, but not limited
to, "agency", "company" , "realty", or "real estate", as the case may
be.
What must a property owner (or representative) do before advertising
real estate? 605:10-9-4 - ANSWERS-
How may a licensee engage in social media as a Realtor? 605:10-9-4 -
ANSWERS-A licensee who is engaged in licensed activities through
social networking mediums must indicate their license status &
include their broker's reference as required elsewhere in this rule.
When can a licensee place a yard sign on a property? 605:10-9-4 -
ANSWERS-Once they have secured the permission of the owner or
the owner's authorized representative & said permission has a definite
date of expiration.
When & how may a licensee promote a seller incentive? 605:10-9-4 -
ANSWERS-Must have consent from the seller. The promotion only
applies to the seller's particular property.
How may associates advertise? 605:10-9-4 - ANSWERS-
