DC Real Estate Legislation and
Regulations Questions and Answers
1.Property Manager Eligibility Requirements
Answer Able to read, write, and under- stand English
2.Real Estate Broker Practice
Answer May engage in building housing and selling hous- ing, or may
sell or negotiate the sale of any lot in any subdivision of land comprising
of 5 or more lots.
3.Agent Eligibility Requirements
Answer 1. Able to read, write, and understand English
2.Is a high school graduate or GED holder
3.Has successfully completed course of study (60 hours) prescribed by
the Com- mission at an approved school.
4.Certain Representations Prohibited
Answer Unless licensed in DC, no person may use the title "real estate
salesperson (R.E.S.)" or any other device that would indicate the the
person is a licensed real estate salesperson in DC.
5.Exemptions from Licensure Requirement
Answer No license necessary if
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,2.Any owner or lessor of real estate performing real estate
salesperson duties in the course of regular management of their
property.
3.Any trustee or auctioneer acting in a mortgage, deed of trust, or
similar instrument securing the payment of a debt.
4.Except for title companies, any bank, trust company, building and
loan or savings and loan association, or insurance company, having
fiduciary interest when the company is engaged.
6.Licensure of Real Estate Organizations
Answer Every branch office managed by a licensed real estate broker.
7.Broker Place of Business
Answer b. When broker changes location, must notify mayor within 15
days and replace licenses.
c. Failure results in suspension of license.
d. New licenses for unexpired term can be issued upon written request
and payment.
8.Automatic Suspension of License through Affiliation
Answer a. When broker's li- cense is suspended, salespersons must
return licenses within 15 days. Cannot perform in this time.
b. When salesperson terminated, licensee will inform former employee
that license was returned to Mayor within 15 days.
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, c. When salesperson terminated, salesperson's duty to notify Mayor
within 15 days.
9.Fiduciary Duties Representing a Seller
Answer Disclose to seller material facts related to the property which
the licensee has actual knowledge.
10.General Provisions Governing Disclosure of Brokerage Relationships
Answer a. If not defined, brokerage relationship 90 days.
c. Licensee will disclose to client brokerage relationship with prospective
nonclient buyer or seller.
d. If not specified, will disclose brokerage relationship to non-client
landlord or tenant
prior to signing lease. Does not apply to homes for lease terms less than
2 months.
f. Copies of any disclosures shall be kept for 3 years.
11.Prohibited Acts - I
Answer Fines not to exceed $2,500 for
6.Accepting payment for real estate services from anyone other
than licensed broker.
8. Representing other broker.
9. False advertising.
14. Using trademarks of real estate organization but non member.
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Regulations Questions and Answers
1.Property Manager Eligibility Requirements
Answer Able to read, write, and under- stand English
2.Real Estate Broker Practice
Answer May engage in building housing and selling hous- ing, or may
sell or negotiate the sale of any lot in any subdivision of land comprising
of 5 or more lots.
3.Agent Eligibility Requirements
Answer 1. Able to read, write, and understand English
2.Is a high school graduate or GED holder
3.Has successfully completed course of study (60 hours) prescribed by
the Com- mission at an approved school.
4.Certain Representations Prohibited
Answer Unless licensed in DC, no person may use the title "real estate
salesperson (R.E.S.)" or any other device that would indicate the the
person is a licensed real estate salesperson in DC.
5.Exemptions from Licensure Requirement
Answer No license necessary if
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16
,2.Any owner or lessor of real estate performing real estate
salesperson duties in the course of regular management of their
property.
3.Any trustee or auctioneer acting in a mortgage, deed of trust, or
similar instrument securing the payment of a debt.
4.Except for title companies, any bank, trust company, building and
loan or savings and loan association, or insurance company, having
fiduciary interest when the company is engaged.
6.Licensure of Real Estate Organizations
Answer Every branch office managed by a licensed real estate broker.
7.Broker Place of Business
Answer b. When broker changes location, must notify mayor within 15
days and replace licenses.
c. Failure results in suspension of license.
d. New licenses for unexpired term can be issued upon written request
and payment.
8.Automatic Suspension of License through Affiliation
Answer a. When broker's li- cense is suspended, salespersons must
return licenses within 15 days. Cannot perform in this time.
b. When salesperson terminated, licensee will inform former employee
that license was returned to Mayor within 15 days.
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16
, c. When salesperson terminated, salesperson's duty to notify Mayor
within 15 days.
9.Fiduciary Duties Representing a Seller
Answer Disclose to seller material facts related to the property which
the licensee has actual knowledge.
10.General Provisions Governing Disclosure of Brokerage Relationships
Answer a. If not defined, brokerage relationship 90 days.
c. Licensee will disclose to client brokerage relationship with prospective
nonclient buyer or seller.
d. If not specified, will disclose brokerage relationship to non-client
landlord or tenant
prior to signing lease. Does not apply to homes for lease terms less than
2 months.
f. Copies of any disclosures shall be kept for 3 years.
11.Prohibited Acts - I
Answer Fines not to exceed $2,500 for
6.Accepting payment for real estate services from anyone other
than licensed broker.
8. Representing other broker.
9. False advertising.
14. Using trademarks of real estate organization but non member.
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