One of the most crucial lessons that real estate agents must learn and remember is what not to do when working as a professional in this sector. So, what are the activities that you are not permitted to engage in, that may result in a penalty for breaking the standards?
Some rules, regulations, and norms regulate real estate industry practices. Kentucky Real Estate License holders must be aware of that. The pros must study and grasp things thoroughly, as well as exhibit appropriate behavior at all times. Properly carrying out their responsibilities will earn a reputation and rewards. These laws and regulations are consistent with federal law's emphasis on the finest real estate settlement procedures and practices. This is taught to you at the Kentucky real estate school.
According to these guidelines, real estate pros should understand the following clearly as it is part and parcel of the topics taught at the KY real estate classes.
- Buyers should be aware of their house purchasing expenditures.
- Sellers should be aware of the costs of selling their house.
- Agents are not permitted to conceal any cash or other costs on settlement statements.
- Agents must own an active Kentucky Real Estate License. According to Kentucky law, no one may represent as a broker or agent in this field while unregistered.
- It is unlawful to be biased toward any party participating in a real estate transaction.
- It is prohibited to discriminate against sellers or purchasers in a real estate transaction.
- It is misconduct when you only show properties to a selective group of people.
- Getting permission through written agreements is mandatory if you want to list or sell any property that belongs to any client.
- Brokers and agents are required to provide their clients with written assurances that they will provide the best services possible. Real estate agent class teaches you how to do this documentation.
- A real estate broker in the state of Kentucky should abide strictly by the broker lien law.
- A real estate broker in the state of Kentucky may not violate the zero-call lists.
All about that is taught in the Kentucky Real Estate Classes.
To explain more,
- If a broker doesn’t get paid for their services in a real estate transaction, he is permitted, as per the broker lien law, to acquire a lien on the property. At the same time, attempting to obtain a lien on the property without any supporting written documents would be a violation of the lien law. So, without a clear-cut agreement for selling and listing the properties, the brokers cannot list or sell any property. All parties involved in the transaction must be aware of the property deal broker's terms and responsibilities.
- Telemarketers are not supposed to call the prospects of customers who have requested no calls. The "Zero Call List" will have a list of all the residential phone numbers where the telemarketers could find these specified numbers with no call requests. This list gets updated from time to time. These updates are presented to the public. So, a real estate broker or agent who uses their telemarketers to call customers and prospects must have full access to the registry and check for all the do-not-call requests without fail.
Equip yourself better with good training by attending the Kentucky Real Estate Classes regularly.
