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All renewals must be completed by March 31st. Licensees who fail to renew by March 31st will be cancelled effective April 1. Any renewal received after March 31st will incur late renewal fines. April 1 \u2013 May 15 a $100 fine is added to late renewals.
Per new regulatory rules, providers will not be given additional reporting and upload time. Licensees taking courses after December 21st of the calendar year may be subject to a cancelled license and will be assessed a $1,000 (new regulation) fine from KREC. There are no exceptions.
The Commission is charged with the responsibility of protecting the public interest through regulation, examination and licensing of Kentucky real estate brokers and sales associates.
In fact, you can take it as many times as you want but keep in mind you must pay the exam fee on each additional attempt. Good news, though, you only have to retake the portion of the exam - national or state law - you failed. You have four (4) months for the retake. After that, both portions must be retaken.
The statutes give the commission broad powers in regulating the conduct of Kentucky real estate licensees. That power includes everything from issuing and revoking licenses to the supervision of brokers handling client funds.
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Requirements for a Kentucky Real Estate License Be 18 years of age; Have attained a high school diploma or GED; ... Completed all real estate pre-license courses prior to taking the real estate examination; Complete FBI criminal background check; and. Must apply within sixty (60) days of passing their exam.
what is the main purpose of the Kentucky Real Estate Commission? to put into effect and make known the administrative regulations to effectively carry out and enforce the provisions of the Kentucky statutes governing real estate.
The real estate education, research and recovery fund has several purposes, including: Paying outstanding court orders against licensees who have caused financial harm upon citizens through improper, fraudulent or dishonest conduct.
Real estate commissions can be negotiated, but they typically run about 5 percent to 6 percent of a home's sale price. The exact terms of an agent's commission vary from sale to sale, and can depend on region and which firm they work for.
(7) A licensee shall be subject to discipline consistent with the commission's authority in KRS 324.160(1) for a violation of KRS 324.160(4)(t) if the licensee fails to submit notification to the commission of any changes required by this section within ten (10) days of the change.

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