DRE Summer Bulletin There was an important alert on page 3 of the DRE Summer Bulletin. You might check it out. Notice to Mortgage Loan Brokers The Department of Real Estate (DRE) has seen an increasing number of applications for mortgage loan originator license endorsements from people without a real estate license, which is a […]
DRE wants to remind licensees about the important California laws intended to address housing discrimination. Must be important because DRE has issued only one other alert in the past 19 months. The laws that they are addressing include the Unruh Civil Rights Act, FEHA, and Holden. They also reference Commissioner’s Regulation 2780, panic selling and […]
Senate Bill 263 Since 1978 Real Estate Licensees must complete 45 Hours of Continuing Education to renew their four year licenses. After a few years the DRE started to require specific classes to be part of the 45 hours. To date there are six three hour classes that must be finished by each student. The […]
Unlicensed Fictitious Business Names Summer Goralik is very experienced in the field of DRE Compliance. Her resume includes several years at DRE as an investigator and author. Realty Times has posted an interview featuring Summer and the famous Terri Murphy. It discusses problems that can arise with the use of “unlicensed fictitious business names”. It […]
Best Practices The agency released many publications concerning how to operate in today’s market. There are FAQ’s for Processes, Business Practices, and Impacts on Applicants and Licensees. There are two extremely important and far reaching items. First, Industry Guidance: Real Transactions, and a General Checklist for Transactions. Learn how to operate today and close sales. […]
Are These Deadlines Extended? DRE COVID-19 FAQs states, “DRE will review all situations on a case by case basis”. For more information see DRE’s COVID-19 Resource Page or reach us at [email protected] or (800) 439-4909.
Pocket Listing Pocket Listing: This is a listing of a broker member of the local Multiple Listing Service that is not placed into the Service. Do all listings have to be submitted to Multiple? No. Exceptions are: Listings for apartment houses, commercial buildings, etc.Listings out of the local area not covered by the Multiple. Listings […]
Sanctions The DRE sanctions hundreds of licensees monthly. Some serious mistakes and some that are not so serious. The information is posted monthly to the DRE website and remains there forever. I miss seeing the rulings in the quarterly bulletins. First thing we all used to read. This is similar to the CAR Wall of […]
Trust Fund Management In my real estate classes I ask a question and many licensees do not know the correct answer. Ready? What is a worse crime in Trust Fund Management? Commingling or Conversion. They answer commingling because licensees are taught from their first class, never mix your personal funds with trust funds. Conversion according […]
Path to Success To help DRE MLO’s to stay on the straight and narrow path to success, the DRE has prepared a manual that should be used by all MLO’s. This includes Brokers, MLO’s, and all the staff in a company. Trust Funds One of the most important sections is use of a Trust Fund. […]
