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12 Cards in this Set
- Front
- Back
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What is the function of the real estate commission? |
To investigate all written complaints. |
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Once the complaint is verified, the commission has two options. What are they? |
1) Dismiss 2) ask the broker to respond to the complaint |
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Until the response is received, the Commission may not: |
1) Subpoena records 2) Start a lawsuit, or 3) Seize the brokerage firm’s records |
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Once the response is received, the Commission may: |
1) Dismiss the case 2) Issue the lowest from of discipline (formal warning) called a Letter of Admonishment 3) Send to heating with an administrative law judge |
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After the hearing and the judge’s verdict, the matter is referred back to the Commission. The Commission has the following options: |
1. Public Censure of the broker 2. Suspend the brokers license 3. Revoke the brokers license 4. Fine up to $2500 per incident |
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Does the Commission have the right to file criminal charges or asses damages? |
No, however they can refer the case to the proper criminal authority. |
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When can The Real Estate Commission audit a brokerage firm? |
At any time |
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Conway-Bogue and Rule F require brokers to us what type of forms in the practice of real estate? |
Standard or approved forms |
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The Colorado Real Estate Commission has approved a wide variety of forms to __________ in complying with Conway-Bogue. |
Assist brokers |
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Rule F requires? |
That Brokers use approved forms with applicable. |
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Rule F keeps brokers in _________ with Conway-Bogue decision. |
Compliance |
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Rule F “permitted and prohibited form modifications”: |
1. Brokers may not alter the standard language as approved a) brokers my add info identifying the brokerage firm when the forms are printed b) if any approved provision is deleted or struck out, it must crossed out so the deleted words remain legible c) language added in blank spaces must be in italics or in different typeface or font |
