Real Estate Licensee Accountability in Transactions
What must a licensee account for in real estate transactions?
A licensee must account for all monies received on real estate transactions according to the:
- Board of Realtors
- Licensing Law
- Code of Ethics
- all of the above
Final answer: A real estate licensee is accountable for all monies received in real estate transactions according to the Board of Realtors, Licensing Law, and Code of Ethics.
A real estate licensee must account for all monies received during real estate transactions in accordance with all of the following:
- Board of Realtors: The Board of Realtors may have additional rules for accountability that members must adhere to.
- Licensing Law: The Licensing Law sets forth the legal requirements that real estate professionals must follow to comply with state regulations.
- Code of Ethics: The Code of Ethics provides a framework for professional conduct, which includes the management of funds in a transparent and trustworthy manner.
Together, these standards ensure the protection of the public and uphold the integrity of the real estate industry.