SB 672
Relating to acts for which WV Real Estate Commission may refuse, suspend, or revoke licenses
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Sign in to take action- Introduced
- Passed Senate
- Passed House of Delegates
- To Governor
- Became Law
Bill overview
This bill expands the grounds for which the West Virginia Real Estate Commission can refuse to grant, suspend, or revoke a real estate license. It lists a wide range of actions that could lead to disciplinary action, including providing false information, making misleading statements, violating advertising rules, and engaging in fraudulent practices. The bill also addresses issues related to supervising associate brokers and salespersons, and reporting violations.
Key provisions
- Refusing, suspending, or revoking licenses for submitting false information on applications.
- Prohibiting misrepresentation or false promises in real estate transactions.
- Restricting the practice of advertising property without proper agency agreements.
- Requiring disclosure of agency relationships to all parties involved.
- Outlawing the sharing of compensation between licensed brokers except in specific circumstances.
- Addressing issues related to supervising associate brokers and salespersons.
- Prohibiting certain practices like guaranteeing future profits or negotiating net listings.
- Expanding grounds for disciplinary action to include violations of professional conduct requirements.
Who is affected
- Real estate licensees in West Virginia
- Real estate brokers
- Real estate salespersons
- Associate brokers
- Individuals involved in real estate transactions
Notable changes
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