Kentucky 407 real estate commission service 2026

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The document is a consent form for individuals applying for or holding a real estate license in Kentucky, specifically for those residing outside the state. It grants irrevocable consent for legal actions to be initiated against them in Kentucky courts through service of process on the Kentucky Secretary of State, ensuring that such service is considered valid and binding.

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Click ‘Get Form’ to open the Kentucky 407 real estate commission service in the editor.
Begin by entering your name in the designated field, ensuring you print clearly in black or blue ink or type it directly.
Review the consent section carefully. This section outlines your agreement to legal actions being initiated against you in Kentucky. Make sure you understand this before proceeding.
Sign and date the form where indicated. Ensure that your signature matches the name provided earlier.
Complete the notary section by providing the date and county of notarization. This step is crucial for validating your application.
Finally, ensure all fields are filled out correctly before saving or exporting your completed document for submission.

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

What is the agency relationship between the real estate company and its affiliated brokers?

Typical commission splits include 50/50, where the broker and real estate agent receive equal sums of money from a commission split, but they can also use the 60/40 or 70/30 split options. In these situations, the real estate agents get a larger sum of the money than the brokers.

What is a dual agency agreement?

What is the agency relationship between the real estate company and its affiliated brokers? The individual brokers are the agents and the company is the principal. A buyer asks a broker to show him a property listed with another company that is offering compensation only to buyer agents.

What is the commission for a realtor in Kentucky?

Average total real estate commission in Kentucky is 5.65% of the home sale price. This includes an average of 2.83% for the selling agent plus an average of 2.82% for the buyers agent. Heres what 5.65% works out to for three different price points: $9,605 in agent fees on a $170,000 home.

Why does the Kentucky Real Estate Commission offer two versions of the consumer guide to agency relationships?

If Kentucky Real Estate Commission members do not conduct a violation hearing, an authorized hearing officer typically carries out this responsibility. The officer must comply with due process rules when conducting the hearing.

Does Kentucky allow dual agency?

Some states like Kentucky allow dual agency. Kentucky specifically requires written disclosure of the agency relationship and written consent by both the buyer and seller. Kentucky also has what are called transactional brokerage relationships and designated agency relationships.

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What are the new rules for realtors in Kentucky?

After August 17, all REALTORS must enter into a buyer-broker agreement with any prospective buyers. Both parties must discuss their REALTORs compensation structure, amount and capture in the agreement. This must be completed before any home tours (in-person or live virtual tours) or purchase discussions take place.

Kentucky 407 real estate commission service 2026

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