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What are the limits of compensation, if any, from Alabamas real estate recovery fund? The answer is $25,000 for the same transaction. Payments for claims arising out of the same transaction may not exceed a total of $25,000, regardless of the number of claimants.
If the application is granted, the applicant will be paid an amount for his or her actual and direct (out of pocket) loss in a transaction, up to a statutory maximum of $50,000 per transaction, with a possible total aggregate maximum of $250,000 per licensee.
Continuing Education (CE) All actively licensed agents are required to attend six (6) hours of continuing education courses sponsored or approved by the Commission.
Designated Broker or Delegated Associate Broker License: 30 hours of ADRE-approved Continuing Education (CE) courses must be completed and uploaded at .az.gov/webapp/dre every two years to renew a real estate license.
Active licensees are required to complete 18 clock hours of education every two years. Education requirements will be due every time you renew your two-year license.
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Ohio has created a real estate recovery fund to protect individuals who have encountered monetary losses because of an action of a licensed real estate agent or broker. The recovery fund will cover up to $40,000 per licensee to cover actual losses incurred because a licensed agent error.
We surveyed local agents and found that the average real estate commission in Alabama is 5.44%, which is higher than the national average of 5.37%. To sell a house in Alabama worth $207,145 the median home value in Alabama youll pay about $11,269 in realtor fees.
Every 2 years, Alabama requires 15 hours of CE, including 3 hours of Risk Management. As an approved course provider, our sister site 360training has everything you need to meet your education requirements online! For more information on license renewal, see the Alabama Real Estate Commissions website.
There is no limitation to the number of times that you may take the license examination within the six (6) months following completion of the prelicense course.
Of all states, Colorado and Texas come on top as the hardest in terms of granting a real estate license. Each of the states requires some education and a test, which you must pass before being issued with a real estate license.