As a licensee, it’s best to avoid sharing details regarding your clients and keep up to date with the licensure rules in your state so you don’t risk losing your license. Whether you’re working with an average client or a famous one, you could have your license suspended by your state’s commission if you spill too much of their personal information. But you may break client confidentiality if you post that Tweet. If you’re working with a famous client, you may be tempted to brag about it on social media. If you become a luxury real estate Salesperson or real estate Broker, client confidentiality is non-negotiable. Yes, you can share the listing information of the home, but sharing where they work, their marital status, and the names of their family members, for example, are off-limits.
When you’re working with a client on a purchase or sale, what they tell you is confidential. Keep in mind, these are not all of the reasons that a license can be revoked and each state has different rules regarding the revocation of a license - but by reading this guide, you’ll have a better understanding of how and why real estate license revocation occurs. Each state’s real estate commission or licensing board has rules in place to protect real estate licensees and their clients. This guide will cover why people lose their real estate license, why licenses get suspended, and if you can get your license reinstated after losing it. There are a number of reasons that a real estate agent can lose their license. Any court of competent jurisdiction may try any violation of this chapter, and upon conviction, the court may revoke or suspend the license of the person so convicted, in addition to imposing the other penalties provided in this section.What Are the Top Reasons a Real Estate Agent Loses Their License? The Administrator may prefer a complaint for violation of NRS 645.230 before any court of competent jurisdiction and may take the necessary legal steps through the proper legal officers of this State to enforce the provisions thereof.ħ. The provisions of this section do not release a person from civil liability or criminal prosecution pursuant to the general laws of this State.Ħ. Any officer or agent of a corporation, or member or agent of a limited-liability company, partnership or association, who personally participates in or is an accessory to any violation of this chapter by the limited-liability company, partnership, association or corporation, is subject to the penalties prescribed in this section for natural persons.ĥ. A person who violates any other provision of this chapter, if a natural person, is guilty of a gross misdemeanor, and if a limited-liability company, partnership, association or corporation, shall be punished by a fine of not more than $2,500.Ĥ.
Any licensee, permittee or owner-developer who commits an act described in NRS 645.630, 645.633 or 645.635 shall be punished by a fine of not more than $5,000 for each offense.ģ. In addition to any other penalty, the court shall order the person to pay restitution.Ģ. Is guilty of a category D felony and shall be punished as provided in NRS 193.130. (b) Sells or attempts to sell in this State any interest in real property by means of intentional misrepresentation, deceit or fraud, (a) Obtains or attempts to obtain a license pursuant to this chapter by means of intentional misrepresentation, deceit or fraud or TITLE 54 PROFESSIONS, OCCUPATIONS AND BUSINESSESĬhapter 645 Real Estate Brokers and Salespersons
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