Key Takeaways
- State commissions have broad powers including subpoena authority, audit powers, and the ability to revoke licenses.
- Sanctions range from reprimands and fines to suspension, revocation, and referral for criminal prosecution.
- Recovery funds in many states provide restitution to consumers harmed by licensee misconduct.
- ARELLO facilitates interstate sharing of disciplinary information, making it difficult to escape consequences by moving to another state.
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Test Your Knowledge
1.What entity has statutory authority to suspend or revoke real estate licenses?
2.What typically triggers an unscheduled state regulatory investigation?
3.Can a state real estate commission enforce actions against licensees from other states?