reglab/statecodes huggingface dataset:
Iowa Administrative Code › Agency 193E - Real Estate Commission › Chapter 12 - Disclosure of Relationships › Rule 193E-12.4 - Single Agent Representing a Buyer or Tenant

Current through Register Vol. 47, No. 3, July 24, 2024
(1)
Duty to buyer or tenant.
A licensee representing a buyer or tenant as an exclusive buyer's or an
			 exclusive tenant's agent have the same duties and obligations as mentioned in
			 subrule 12.3(1).
a. Perform the terms of any
			 written agreement made with the client;
b. Exercise reasonable skill and care for the
			 client;
c. Promote the interests of
			 the client with the utmost good faith, loyalty, and fidelity, including but not
			 limited to the following:
(1) Seeking a
			 property at a price and terms which are acceptable to the buyer or tenant,
			 except that the licensee is not obligated to seek other properties while the
			 client is a party to a contract to purchase property, or to a lease or letter
			 of intent to lease, unless it is provided for by the brokerage
			 agreement;
(2) Presenting all
			 written offers to and from the client in a timely manner regardless of whether
			 the client is already a party to a contract to purchase property or is already
			 a party to a contract or letter of intent to lease;
(3) Disclosing to the buyer or tenant
			 material adverse facts concerning the property and the transaction that are
			 actually known by the licensee, pursuant to Iowa Code section
			 543B.56;
(4) Advising the buyer or tenant to obtain
			 expert advice on material matters about which the licensee knows but the
			 specifics of which are beyond the expertise of the licensee;
(5) Preserving the buyer's or tenant's
			 confidential information as defined in rule
			 193E-2.1 (543B), unless
			 disclosure is mandated by law or unless failure to disclose such information
			 would constitute fraud or dishonest dealing, including but not limited to the
			 following:
1. Information concerning the buyer
			 or the tenant that, if disclosed to the other party, could place the client at
			 a disadvantage when bargaining;
2.
			 That the buyer or tenant is willing to pay more than the asking price or lease
			 price for the property;
3. What the
			 motivating factors are for the party's buying or leasing the
			 property;
4. That the buyer or
			 tenant will agree to sale, lease, or financing terms other than those
			 offered;
5. The buyer's or tenant's
			 real estate needs;
6. The buyer's
			 or tenant's financial qualifications;
(6) Accounting in a timely manner for all
			 money and property received;
(7)
			 Providing brokerage services to all parties to the transaction honestly and in
			 good faith;
(8) Complying with all
			 criteria of Iowa Code chapter 543B and all commission rules;
(9) Complying with any applicable federal,
			 state, or local laws, rules, and ordinances, including fair housing and civil
			 rights statutes and regulations.
Iowa Administrative Code › Agency 193E - Real Estate Commission › Chapter 12 - Disclosure of Relationships › Rule 193E-12.5 - Disclosed Dual Agent

Current through Register Vol. 47, No. 3, July 24, 2024
(1) A
			 brokerage which has a company policy that permits disclosed dual agency for
			 in-house transactions provides a disclosed dual agency consent agreement to the
			 client or prospective client prior to engaging in any activities of a dual
			 agent. If any seller, landlord, buyer, or tenant rejects dual agency, or
			 refuses to sign consent to dual agency, the licensee cannot act as a dual
			 agent. The dual agency consent agreement complies with Iowa law and commission
			 rules including, but not limited to, the criteria to inform the prospective
			 clients that they are not obligated to consent to dual agency representation as
			 provided by subrule 12.5(2).
a. A licensee
			 may act as a dual agent only with the informed consent of all parties to the
			 transaction. The informed consent is evidenced by a written agreement pursuant
			 to Iowa law and commission rules.
b. A dual agent is an agent for both the
			 seller and buyer or the landlord and tenant and has the duties and obligations
			 needed for a single agent representing a seller or landlord and for a single
			 agent representing a buyer or tenant, unless otherwise provided for in this
			 rule.
c. A dual agent discloses to
			 the client all material adverse facts concerning the property that are actually
			 known by the licensee, pursuant to Iowa Code section
			 543B.56.
d. A dual agent cannot disclose to one client
			 confidential information about the other client and preserves a seller's or a
			 landlord's, or a buyer's or a tenant's, confidential information as defined in
			 rule 193E-2.1 (543B), unless
			 disclosure is mandated by law, or failure to disclose such information would
			 constitute fraud or dishonest dealing, or disclosure is authorized by express
			 instruction. A dual agent does not terminate the dual agency relationship by
			 making the disclosures mandatory or permitted by the dual agency consent
			 agreement. Confidential information includes the same information as
			 193E-subrule 12.3(1) or 12.4(1).
e.
			 In any transaction, a licensee may withdraw from representing a client who has
			 not consented to a disclosed dual agency at any time prior to the existence of
			 the dual agency, which is prior to discussing any seller's or landlord's
			 property with a potential buyer or tenant and prior to discussing any potential
			 buyer or tenant with a seller or landlord, when both the seller or landlord and
			 the buyer or tenant are represented by and are clients of the licensee.
(1) All withdrawals are made in writing and
			 acknowledged by the separate signatures of the clients.
(2) Such withdrawal does not prejudice the
			 ability of the licensee to continue to represent the other client in the
			 transaction or limit the licensee from representing the client in other
			 transactions not involving a dual agency.
Iowa Administrative Code › Agency 193E - Real Estate Commission › Chapter 12 - Disclosure of Relationships › Rule 193E-12.6 - Appointed Agents Within a Brokerage

Current through Register Vol. 47, No. 3, July 24, 2024
Iowa Code section
				543B.59 authorizes a designated
				broker to elect to appoint in writing one or more different licensees
				affiliated with the broker to act as agent to represent exclusively different
				clients in the same transaction, to the exclusion of all other affiliated
				licensees within the real estate brokerage. A licensee cannot disclose, except
				to the licensee's designated broker, information made confidential by request
				or instructions of the client the licensee is representing or otherwise
				confidential by statute or rule, except information allowed by this chapter or
				mandated to be disclosed by law.
(1)
			 The designated broker may want to include in the written company policy some or
			 all of the appointed agents within the brokerage and may want to include the
			 procedure by which the appointment of the agent or agents is made.
(2) The designated broker may decide that
			 since both seller and buyer, or landlord and tenant, brokerage relationships
			 are being offered to consumers by the broker's company, only the affiliated
			 licensee who, on behalf of the designated broker, entered into the listing
			 agreement with the seller or leasing agreement with the landlord will represent
			 the seller or landlord as that client's agent. In that scenario, all other
			 licensees affiliated with the designated broker will represent buyers or
			 tenants as their agents in any transactions dealing with the subject
			 property.
(3) If any seller,
			 landlord, buyer, or tenant who is a client of the broker refuses to sign and
			 consent to the appointed agent within the brokerage appointed by that same
			 broker for the other party to the transaction, then the broker and licensees
			 affiliated with the broker cannot act as an appointed agent for that other
			 party.
Iowa Administrative Code › Agency 193E - Real Estate Commission › Chapter 12 - Disclosure of Relationships › Rule 193E-12.7 - Appointed Agent Procedures and Disclosure

Current through Register Vol. 47, No. 3, July 24, 2024
(1) Prior to entering into a listing or
			 brokerage agreement, a real estate brokerage notifies a client in writing of
			 the real estate brokerage's appointed agent policy and those affiliated
			 licensees in accordance with Iowa Code section
			 543B.59(1). The
			 appointed agent disclosure includes, at a minimum, the following provisions:
a. The name of the appointed
			 agent(s);
b. A statement that the
			 appointed agent will be representing the client as the client's agent and will
			 owe the client duties as set forth in Iowa Code section
			 543B.56(1)  and
			 543B.56(2);
c. A statement that the brokerage may be
			 representing both the seller and the buyer in connection with the sale or
			 purchase of real estate;
d. A
			 statement that other affiliated licensees may be appointed during the term of
			 the brokerage agreement should the appointed agent not be able to fulfill the
			 terms of the brokerage agreement or as by agreement between the designated
			 broker and the client. An appointment of another affiliated licensee or an
			 additional affiliated licensee does not relieve the first appointed agent of
			 any of the duties owed to the client. At any time of the appointment of the new
			 or additional agents, the designated broker complies with the provisions of
			 this rule; and
e. A provision for
			 the client to consent or not consent in writing to the appointment.
Iowa Administrative Code › Agency 193E - Real Estate Commission › Chapter 13 - Trust Accounts and Closings › Rule 193E-13.1 - Trust Account

Current through Register Vol. 47, No. 3, July 24, 2024
All earnest payments, all rents collected, property management
				funds, and other trust funds received by the broker in such capacity or broker
				associate or salesperson on behalf of the broker's client are deposited in a
				trust account maintained by the broker in an identified trust account, with the
				word "trust" in the name of the account, in a federally insured depository
				institution and, for the purposes of this rule, may be referred to as the
				"depository."
(1) All money belonging
			 to others received by the broker, broker associate or salesperson on the sale,
			 rental, purchase, or exchange of real property located in Iowa are trust funds
			 and are deposited in a trust account as directed by the principals to a
			 transaction constituting dealing in real estate. This includes, but is not
			 limited to, receipts from property management contracts; rental or lease
			 contracts; advance fee contracts; escrow contracts; collection contracts;
			 earnest money contracts; or money received by a broker for future investment or
			 other purpose, except a nonrefundable retainer need not be placed in an escrow
			 account if specifically provided for in the written agreement between the
			 broker and the broker's principal.
a. All
			 trust funds are deposited into the trust account no later than five banking
			 days after the date indicated on the document that the last signature of
			 acceptance of the offer to purchase, rent, lease, exchange, or option is
			 obtained unless otherwise specified in the contract.
b. Money belonging to others cannot be
			 invested in any type of fixed-term maturity account, security or certificate
			 without the written consent of the party or parties to whom the money
			 belongs.
c. A broker cannot
			 commingle personal funds in a trust account unless authorized by Iowa Code
			 section 543B.46(4).
The broker ensures that personal funds are deposited to cover
				bank service charges as specified in Iowa Code section
				543B.46 and that at no time are
				trust moneys used to cover any charges. Upon notification that the broker's
				personal funds are not sufficient to cover service charges initiated by the
				bank that are above the normal maintenance charges, the broker deposits
				personal funds to correct the deficiency within 15 calendar days of the closing
				date of that bank statement.
d. Money held in the trust account, which
			 becomes due and payable to the broker, is promptly withdrawn by the
			 broker.
e. The broker cannot use
			 the trust account as a business operating account or for personal use.
			 Commissions, salaries, related items and normal business expenses are not
			 disbursed directly from the trust account.
Iowa Administrative Code › Agency 193E - Real Estate Commission › Chapter 13 - Trust Accounts and Closings › Rule 193E-13.2 - Closing Transactions

Current through Register Vol. 47, No. 3, July 24, 2024
It is mandatory for every broker to deliver to the seller in
				every real estate transaction, at the time the transaction is consummated, a
				complete detailed statement, showing all of the receipts and disbursements
				handled by the broker. Also, the broker at the same time delivers to the buyer
				a complete statement showing all moneys received in the transaction from the
				buyer and how and for what the same were disbursed.
(1) In the event all funds being held by the
			 broker for a transaction cannot be disbursed at the time of closing, the broker
			 obtains an escrow agreement signed by both parties to the transaction which
			 directs the broker regarding the future disbursement of the funds.
(2) The broker retains all trust account
			 records and a complete file, which includes but is not limited to the records
			 mandated by rule 193E-13.5 (543B), on each
			 transaction for a period of at least five years after the date of the closing.
			 Records mandated by this rule may be retained as an electronic record as
			 provided by rule 193E-13.5 (543B).
(3) The listing broker is responsible for the
			 closing even though the closing may be completed by another licensee.
(4) If the closing transaction is handled
			 through an unlicensed escrow agent and the escrow agent renders a closing
			 statement, the listing broker ensures that funds which the broker has received
			 or paid as part of the transaction are accounted for properly.
(5) In the case of a cooperative sale between
			 brokers, the listing broker may elect to close the transaction or, by prior
			 agreement, authorize the selling broker to close.
a. If the listing broker so elects, the
			 selling broker has the buyer make the earnest money check or money order
			 payable to the listing broker and immediately delivers the earnest money check
			 or money order along with the offer to purchase to the listing broker or
			 listing agent.
b. Unless by prior
			 agreement the listing broker has authorized the selling broker to close, the
			 offer to purchase designates that the earnest money is held in trust by the
			 listing broker.
c. Unless by prior
			 agreement the listing broker has authorized the selling broker to close, when
			 cash is accepted as earnest money by the selling agent, the selling agent
			 deposits the money in the selling broker's trust account in accordance with
			 commission rules, and then immediately transfers the earnest money deposit to
			 the listing broker by issuing a check drawn on the selling broker's trust
			 account.
Iowa Administrative Code › Agency 193E - Real Estate Commission › Chapter 13 - Trust Accounts and Closings › Rule 193E-13.4 - Consent to Return Earnest Money Not Necessary

Current through Register Vol. 47, No. 3, July 24, 2024
When an offer to purchase is withdrawn or the acceptance is
				revoked without liability pursuant to Iowa Code chapter 558A, any earnest money
				deposit is promptly returned to the buyer without delay. The seller's consent
				and agreement to release the funds is not necessary. A copy of the written
				revocation or withdrawal is retained with the trust account supporting
				documents.
Iowa Administrative Code › Agency 193E - Real Estate Commission › Chapter 13 - Trust Accounts and Closings › Rule 193E-13.5 - File Recordkeeping

Current through Register Vol. 47, No. 3, July 24, 2024
Every broker retains for a period of at least five years true
				copies of all business books; accounts, including voided checks; records;
				contracts; closing statements; disclosures; signed documents; the listing; any
				offers to purchase; and all correspondence relating to each real estate
				transaction that the broker has handled and each property managed. The records
				are made available for reproduction and inspection by the commission, staff,
				and commission-authorized representatives at all times during usual business
				hours at the broker's regular place of business. If the brokerage closes, the
				records are made available for reproduction and inspection by the commission,
				staff, and commission-authorized representatives upon request.
(1) Contracts and other documents that have
			 been changed or altered to the point where the language is unreadable and faxed
			 contracts and documents in which the language is unreadable are not acceptable
			 records and are redrafted and signed by the parties.
(2) Copies of unreadable documents are not
			 acceptable as true copies of the originals regardless of the medium.
(3) Electronic records. The files, records,
			 and other documents mandated by this chapter may be stored in electronic format
			 for convenience and efficiency in a system for electronic record storage,
			 analysis, and retrieval.
a. A record obligated
			 by this chapter may be retained as an electronic record only if the record
			 storage medium can be easily accessed and the records can be readily retrieved
			 and transferred to a legible printed form upon request.
b. The scanning or electronic generation of a
			 record is monitored to ensure that the copy is clear, legible and true before
			 the original is shredded.
c. Once
			 the original record is transferred to the appropriate electronic storage medium
			 consistent with this rule, the commission will no longer need the retention of
			 the record in its original medium. For the purposes of this chapter, electronic
			 records are considered the same as originals.
Iowa Administrative Code › Agency 193E - Real Estate Commission › Chapter 13 - Trust Accounts and Closings › Rule 193E-13.6 - Licensee Acting as a Principal

Current through Register Vol. 47, No. 3, July 24, 2024
When a licensee is acting in the capacity of a real estate
				broker, broker associate or salesperson and is also a principal in the sale,
				lease, rental or exchange of property owned by the licensee, all payments,
				rent, or security deposits received from the lessee, renter or buyer are
				deposited into the broker's trust account. The use of the broker's trust
				account is not needed if all of the following exist:
1. The sale, rental, or exchange is strictly,
			 clearly and completely a "by owner" transaction and there is not a listing or
			 brokerage agreement;
2. No
			 commission or other compensation is paid to or received by the licensee;
			 and
3. The licensee does not
			 function throughout the transaction in any capacity requiring a real estate
			 license.
Iowa Administrative Code › Agency 193E - Real Estate Commission › Chapter 14 - Seller Property Condition Disclosure › Rule 193E-14.1 - Property Condition Disclosure

Current through Register Vol. 47, No. 3, July 24, 2024
The criteria of this chapter applies to transfers of real
				estate subject to Iowa Code chapter 558A. For purposes of this chapter,
				"transfer" means the same as Iowa Code section
				558A.1(5)  and
				"agent" means the same as Iowa Code section
				558A.1(1).
(1)
Additional disclosure.
Nothing in this rule is intended to prevent any additional disclosure or to
			 relieve the parties or agents in the transaction from making any disclosure
			 otherwise mandated by law or contract.
(2)
Licensee responsibilities to
			 seller.
At the time a licensee obtains a listing, the listing licensee
			 obtains a completed disclosure signed and dated by each seller represented by
			 the licensee.
a. A licensee representing a
			 seller delivers the executed statement to a potential buyer, a potential
			 buyer's agent, or any other third party who may be representing a potential
			 buyer, prior to the seller's making a written offer to sell or the seller's
			 accepting a written offer to buy.
b. The licensee representing a seller
			 attempts to obtain the buyer's signature and date of signature on the statement
			 and provides the seller and the buyer with fully executed copies of the
			 disclosure and maintains a copy of the written acknowledgment in the
			 transaction file. If the licensee is unable to obtain the buyer's signature,
			 the licensee obtains other documentation establishing delivery of the
			 disclosure and maintains the written documentation in the transaction
			 file.
c. If the transaction closes,
			 the listing broker maintains the completed disclosure statement for a minimum
			 of five years.
d. The executed
			 disclosure statement is delivered to the buyer(s) or the buyer's agent in
			 accordance with Iowa Code section
			 558A.2(2). If
			 there is more than one buyer, any one buyer or buyer's agent may accept
			 delivery of the executed statement.
Iowa Administrative Code › Agency 193E - Real Estate Commission › Chapter 15 - Property Management › Rule 193E-15.1 - Property Management

Current through Register Vol. 47, No. 3, July 24, 2024
A licensee cannot rent or lease real estate, offer to rent or
				lease real estate, negotiate or offer or agree to negotiate the rental or
				leasing of real estate, list or offer to list real estate for the leasing or
				rental of real estate, assist or direct in the negotiation of any transaction
				calculated or intended to result in the leasing or rental of real estate or
				show property to prospective renters or lessees of real estate unless the
				licensee's broker holds a current written property management agreement or
				other written authorization signed by the owner of the real estate or the
				owner's authorized agent.
(1) Every
			 property management agreement or other written authorization between a broker
			 and an owner of real estate includes, but is not limited to, the following:
a. Proper identification of the property to
			 be managed.
b. All terms and
			 conditions under which the property is to be managed and the powers and
			 authority given to the broker by the owner.
c. Terms and conditions under which the
			 broker will remit property income to the owner and when the broker will provide
			 periodic written statements of property income and expenses to the owner, which
			 is done no less than annually.
d.
			 Which payments of property-related expenses are to be made by the broker to
			 third parties.
e. Amount of fee or
			 commission to be paid to the broker and when it will be paid.
f. Amount of security deposits and prepaid
			 rents to be held by the broker or the owner.
g. Effective date of the agreement.
h. Terms and conditions for termination of
			 the property management agreement by the broker or the owner of the
			 property.
i. Signatures of the
			 broker and owner or the owner's authorized agent.
Iowa Administrative Code › Agency 193E - Real Estate Commission › Chapter 16 - Prelicense Education and Continuing Education › Rule 193E-16.1 - Definitions

Current through Register Vol. 47, No. 3, July 24, 2024
For the purpose of these rules, the following definitions
				apply:
"Affirmative marketing"
means the entire scope
				of social laws and ethics that are concerned with civil rights as they apply
				especially to housing and to the activities of real estate licensees.
"Approved program, course, or activity"
means
				a continuing education program, course, or activity meeting the standards set
				forth in these rules which has received advance approval by the commission
				pursuant to these rules.
"Approved provider"
means a person or an
				organization that has been approved by the commission to conduct continuing
				education activities pursuant to these rules.
"Broker"
means any person holding an Iowa real
				estate broker license as defined in Iowa Code section
				543B.3.
"Commission"
means the real estate
				commission.
"Continuing education"
means education needed
				as a condition to license renewal.
"Credit hour"
means the value assigned by the
				commission to a prelicense or continuing education program, course, or
				activity.
"Distance learning"
or
"online
				learning"
means a planned teaching/learning experience with a
				geographic separation of student and instructor that utilizes a wide spectrum
				of technology-based systems, including computer-based instruction, to reach
				learners at a distance. Home-study courses that include written materials,
				exercises and tests mailed to the provider for review are included in this
				definition.
"Guest speaker"
means an individual who
				teaches a real estate education course on a one-time-only or very limited basis
				and who possesses a unique depth of knowledge and experience in the subject
				matter the individual proposes to teach.
"Hour"
means 50 minutes of instruction.
"Inactive license"
means the same as defined
				in Iowa Code section 543B.5(12).
"Licensee"
means the same as defined in Iowa
				Code section 543B.5(13).
"Live instruction"
means an educational
				program delivered in a traditional classroom setting or by electronic means
				whereby the instructor and student have real-time visual and audio contact to
				carry out their essential tasks.
"Prelicense course"
means instruction
				consisting of one or more courses meeting the criteria of Iowa Code section
				543B.15.
"Salesperson"
means any person holding an Iowa
				real estate salesperson license as defined in Iowa Code section
				543B.5(3).
Iowa Administrative Code › Agency 193E - Real Estate Commission › Chapter 16 - Prelicense Education and Continuing Education › Rule 193E-16.2 - Salesperson Prelicense Criteria

Current through Register Vol. 47, No. 3, July 24, 2024
(1)
Mandatory course of
			 study.
a. The mandatory course of
			 study for the salesperson licensing examination consists of 60 live instruction
			 or distance/online learning hours of real estate principles and practices to
			 comply with the criteria of Iowa Code section
			 543B.15. The curriculum
			 includes, but is not limited to, the following subjects:
Introduction to Real Estate and Iowa License Law
						  .................................
12 hours
Ownership, Encumbrances, Legal Descriptions, Transfer
						  of Title and Closing..........
12 hours
Contracts, Agency and Antitrust
						  ................................................
12 hours
Valuation, Finance and Real Estate Math
						  .........................................
12 hours
Property Management/Leasing, Fair Housing,
						  Environmental Risks and Health Issues
						  ....................................................
12 hours
b. At
			 the time of submission of an application, an applicant applying for an original
			 salesperson license also provides evidence of the following live instruction
			 courses: 12 hours of Developing Professionalism and Ethical Practices, 12 hours
			 of Buying Practices and 12 hours of Listing Practices. All the necessary
			 education is completed during the 12 months prior to the date the application
			 is postmarked or received.
Iowa Administrative Code › Agency 193E - Real Estate Commission › Chapter 16 - Prelicense Education and Continuing Education › Rule 193E-16.3 - Broker Prelicense Education Criteria

Current through Register Vol. 47, No. 3, July 24, 2024
(1)
Mandatory course of
			 study.
The mandatory course of study to take the broker examination
			 consists of Iowa Code section
			 543B.15(7).
			 Approved courses include the following subjects:
Contract Law and Contract Writing
						  .............................................
6 hours
Iowa Real Estate Trust
						  Accounts................................................
6 hours
Principles of Appraising and Market
						  Analysis.....................................
6 hours
Real Estate Law and Agency Law
						  ..............................................
6 hours
Real Estate Finance
						  ..........................................................
6 hours
Federal and State Laws Affecting Iowa Practice
						  ...................................
6 hours
Real Estate Office Organization, Administration and
						  Human Resources...............
12 hours
Real Estate Technology and Data
						  Security........................................
6 hours
Ethics and Safety Issues for
						  Brokers.............................................
6 hours
(2)
Completion of prelicense education.
Successful completion of
			 the broker prelicense education includes passage of an examination(s) designed
			 by the approved provider that is sufficiently comprehensive to measure the
			 student's knowledge of all aspects of the course(s). Times allotted for
			 examinations may be regarded as hours of instruction.
(3)
Substitution of courses.
Written requests for substitution of the broker prelicense education courses
			 specified in subrule 16.3(1) may be granted if the applicant submits evidence
			 of successful completion of a course or courses which are substantially similar
			 to the courses specified in subrule 16.3(1). Any course completed more than 24
			 months prior to commission consideration for approval does not qualify for
			 substitution.
Iowa Administrative Code › Agency 193E - Real Estate Commission › Chapter 16 - Prelicense Education and Continuing Education › Rule 193E-16.4 - Continuing Education Criteria

Current through Register Vol. 47, No. 3, July 24, 2024
(1) All individual real estate licenses are
			 issued for three-year terms, counting the remaining portion of the year of
			 issue as a full year. All individual licenses expire on December 31 of the
			 third year of the license term.
(2)
			 As a criteria of license renewal in an active status, each real estate licensee
			 completes a minimum of 36 hours of approved programs, courses or activities.
			 The continuing education is completed during the three calendar years of the
			 license term and cannot be carried over to another license renewal term.
			 Approved courses in the following subjects are completed to renew a license to
			 active status:
Law Update
						  .................................................................
8 hours
Ethics
						  ......................................................................
4 hours
Electives
						  ...................................................................
24 hours
(3)
			 During each three-year renewal period a course may be taken for credit only
			 once. A course may be repeated for credit only if the course numbers and
			 instructors are different.
(4) A
			 maximum of 24 hours of continuing education may be taken by distance/online
			 learning each three-year renewal period.
(5) A licensee unable to attend educational
			 offerings because of a disability may make a written request to the commission
			 setting forth an explanation and verification of the disability. Licensees
			 making requests need to meet the definition of a person with a disability found
			 in the Americans with Disabilities Act as amended by the ADA Amendments Act of
			 2008 (ADAAA).
(6) In addition to
			 courses approved directly by the commission, the following will be deemed
			 acceptable as continuing education:
a.
			 Credits earned in a state which has a continuing education criteria for renewal
			 of a license if the course is approved by the real estate licensing board of
			 that state for credit for renewal. However, state-specific courses are not
			 acceptable.
b. Courses sponsored by
			 the National Association of Realtors (NAR) or its affiliates.
Iowa Administrative Code › Agency 193E - Real Estate Commission › Chapter 16 - Prelicense Education and Continuing Education › Rule 193E-16.5 - Continuing Education Records

Current through Register Vol. 47, No. 3, July 24, 2024
Applicants for license renewal pursuant to Iowa Code section
				543B.15 certify that the number of hours of continuing education needed to
				renew a license was completed as described in rule
				193E-16.4 (543B).
(1) The commission will verify by random
			 audit or on a test basis the education claimed by the licensee. It is the
			 responsibility of the licensee to maintain records that support the continuing
			 education claimed and the validity of the credits. Documentation is retained by
			 the licensee for a period of three years after the effective date of the
			 license renewal.
(2) It will not be
			 acceptable for a licensee to include on a renewal application continuing
			 education which has not yet been completed, is outside the renewal period, or
			 for which prior approval or postapproval has not been previously
			 granted.
(3) Failure to provide
			 necessary evidence of completion of claimed education within 30 days of the
			 written notice from the commission results in the license's being placed on
			 inactive status. Prior to activating a license that has been placed on inactive
			 status pursuant to this provision, the licensee submits to the commission
			 satisfactory evidence that all necessary continuing education has been
			 completed.
(4) Filing a false
			 affirmation is prima facie evidence of a violation of Iowa Code section
			 543B.29(1).
Iowa Administrative Code › Agency 193E - Real Estate Commission › Chapter 16 - Prelicense Education and Continuing Education › Rule 193E-16.6 - Reactivating an Inactive License

Current through Register Vol. 47, No. 3, July 24, 2024
A license may be renewed without the necessary continuing
				education, but it is only renewed to an inactive status. Prior to reactivating
				a license that has been issued inactive due to failure to submit evidence of
				continuing education, the licensee submits evidence that all deficient
				continuing education hours have been completed. The maximum continuing
				education hours cannot exceed the prescribed number of hours of one license
				renewal period and are completed during the three calendar years preceding
				activation of the license.
Iowa Administrative Code › Agency 193E - Real Estate Commission › Chapter 16 - Prelicense Education and Continuing Education › Rule 193E-16.7 - Full-time Attendance

Current through Register Vol. 47, No. 3, July 24, 2024
Successful completion of continuing education needs full-time
				attendance throughout the program, course or activity. A student who arrives
				late, leaves during class or leaves early does not receive a
				certificate.
Iowa Administrative Code › Agency 193E - Real Estate Commission › Chapter 16 - Prelicense Education and Continuing Education › Rule 193E-16.8 - Education Criteria for Out-of-state Licensees

Current through Register Vol. 47, No. 3, July 24, 2024
Subrule 16.4(2) applies to every Iowa real estate licensee
				unless exempted by Iowa Code section
				272C.2(5).
Iowa Administrative Code › Agency 193E - Real Estate Commission › Chapter 16 - Prelicense Education and Continuing Education › Rule 193E-16.9 - Examination as a Substitute for Continuing Education

Current through Register Vol. 47, No. 3, July 24, 2024
(1) A salesperson
			 may satisfy all continuing education deficiencies by taking and passing the
			 real estate salesperson examination. An authorization letter is obtained from
			 the commission prior to scheduling the examination with the examination
			 administrator.
a. If the salesperson takes
			 and passes the salesperson examination within the six months immediately
			 preceding the expiration of the license, the salesperson examination score
			 report may be substituted for the necessary hours of continuing education
			 credit for the current license term and will satisfy all previous
			 deficiencies.
b. A salesperson who
			 is otherwise qualified to be a broker and who passes the broker licensing
			 examination is not needed to furnish evidence of credit for continuing
			 education earned as a salesperson.
Iowa Administrative Code › Agency 193E - Real Estate Commission › Chapter 16 - Prelicense Education and Continuing Education › Rule 193E-16.10 - Use of Prelicense Courses as Continuing Education

Current through Register Vol. 47, No. 3, July 24, 2024
(1) Salespersons and brokers may take up to
			 24 hours of the salesperson prelicense courses specified in subrule 16.2(1) as
			 continuing education. However, a newly licensed salesperson cannot use credits
			 from the salesperson prelicense course(s) to meet the continuing education
			 criteria of the first renewal term.
(2) Broker prelicense courses taken by a
			 salesperson may be applied as continuing education for renewal of the
			 salesperson license and also may be used as prelicense credit to qualify for a
			 broker license.
(3) A broker may
			 take broker prelicense courses as continuing education, but a newly licensed
			 broker cannot use as continuing education credits from the prelicense courses
			 taken to qualify for the broker license.
Iowa Administrative Code › Agency 193E - Real Estate Commission › Chapter 16 - Prelicense Education and Continuing Education › Rule 193E-16.11 - Requests for Prior Approval or Postapproval of a Course (s)

Current through Register Vol. 47, No. 3, July 24, 2024
A licensee seeking credit for attendance and participation in a
				course, program, or other continuing education activity that is to be conducted
				by a school not otherwise approved by the commission may apply for approval to
				the commission at least 21 days in advance of the beginning of the activity.
				The commission approves or denies the application in writing within 14 days of
				receipt of the application.
(1) The
			 application for prior approval of a course or an activity includes the
			 following information:
a. School or
			 organization or person conducting the activity.
b. Location of the activity.
c. Title and brief description of the
			 activity or title and course outline.
d. Credit hours requested.
e. Date of the activity.
f. Principal instructor(s).
Iowa Administrative Code › Agency 193E - Real Estate Commission › Chapter 17 - Approval of Schools, Courses and Instructors › Rule 193E-17.2 - Certificates of Attendance

Current through Register Vol. 47, No. 3, July 24, 2024
(1) Each approved school under rule
			 193E-17.1 (543B) provides an
			 individual certificate of attendance to each licensee upon completion of the
			 program, course, or activity. The certificate contains the following
			 information:
a. School name and
			 number;
b. Program, course or
			 activity name and number;
c. Name
			 and address of licensee;
d. Date on
			 which the program, course or activity was completed;
e. Number of approved credit hours;
f. Instructor's name;
g. Signature of coordinator or other person
			 authorized by the commission; and
h. A notation as to whether credit hours are
			 to be used as distance learning or as live instruction.
Iowa Administrative Code › Agency 193E - Real Estate Commission › Chapter 17 - Approval of Schools, Courses and Instructors › Rule 193E-17.3 - Instructors Taking License Examinations for Auditing Purposes

Current through Register Vol. 47, No. 3, July 24, 2024
(1) Instructors who
			 take the salesperson or broker examination for auditing purposes first obtain
			 written consent from the commission.
(2) Any instructor who wishes to retake an
			 examination for auditing purposes may be granted permission after 12 months
			 have passed.
Iowa Administrative Code › Agency 193E - Real Estate Commission › Chapter 17 - Approval of Schools, Courses and Instructors › Rule 193E-17.4 - Continuing Education Credit for Instructors

Current through Register Vol. 47, No. 3, July 24, 2024
(1) Commission-approved instructors may
			 receive up to six hours of continuing education credit toward renewal of a real
			 estate license for verified attendance at an instructor development workshop
			 approved by the commission. The instructor may use continuing education credit
			 only once in each three-year renewal period.
(2) An instructor may receive continuing
			 education credit for approved education courses that the instructor teaches,
			 but not more than six hours of credit in any three-year license renewal
			 period.
Iowa Administrative Code › Agency 193E - Real Estate Commission › Chapter 17 - Approval of Schools, Courses and Instructors › Rule 193E-17.5 - Acceptable Course Topics

Current through Register Vol. 47, No. 3, July 24, 2024
(1) The commission will consider courses in
			 the following areas to be acceptable for approval:
a. Real estate ethics;
b. Legislative issues that influence real
			 estate practice, including both pending and recent legislation;
c. The administration of licensing provisions
			 of real estate law and rules, including compliance and regulatory
			 practices;
d. Real estate
			 financing, including mortgages and other financing techniques;
e. Real estate market analysis and
			 evaluation, including site evaluations, market data, and feasibility
			 studies;
f. Real estate brokerage
			 administration, including office management, trust accounts, and employee
			 contracts;
g. Real estate
			 mathematics;
h. Real property
			 management, including leasing agreements, accounting procedures, and management
			 contracts;
i. Real property
			 exchange;
j. Land use planning and
			 zoning;
k. Real estate securities
			 and syndications;
l. Estate
			 building and portfolio management;
m. Accounting and taxation as applied to real
			 property;
n. Land
			 development;
o. Market
			 analysis;
p. Real estate market
			 procedures;
q. Technology and the
			 practice of real estate;
r.
			 Safety;
s. Fair housing;
			 and
t. Diversity, equity and
			 inclusion.
Iowa Administrative Code › Agency 193E - Real Estate Commission › Chapter 17 - Approval of Schools, Courses and Instructors › Rule 193E-17.6 - Nonqualifying Courses

Current through Register Vol. 47, No. 3, July 24, 2024
The following course offerings do not qualify as continuing
				education:
(1) Courses of instruction
			 designed to prepare a student for passing the real estate salesperson
			 examination;
(2) Sales promotion or
			 other meetings held in conjunction with a licensee's general
			 business;
(3) A course certified by
			 the use of a challenge examination. All students complete the necessary number
			 of classroom hours to receive certification;
(4) Meetings which are a normal part of
			 in-house staff or employee training;
(5) Orientation courses for licensees, such
			 as those offered through local real estate boards.
Iowa Administrative Code › Agency 193E - Real Estate Commission › Chapter 17 - Approval of Schools, Courses and Instructors › Rule 193E-17.7 - Standards for Approval of Courses of Instruction

Current through Register Vol. 47, No. 3, July 24, 2024
The commission may approve live classroom instruction, distance
				education programs and paper and pencil home-study courses, subject to the
				following conditions:
(1) The course
			 pertains to real estate topics that are integrally related to the real estate
			 industry; and
(2) The course allows
			 the participants to achieve a high level of competence in serving the
			 objectives of consumers who engage the services of licensees; and
(3) The course qualifies for at least one
			 credit hour.
Iowa Administrative Code › Agency 193E - Real Estate Commission › Chapter 17 - Approval of Schools, Courses and Instructors › Rule 193E-17.8 - Responsibilities of Instructors and Course Developers

Current through Register Vol. 47, No. 3, July 24, 2024
(1) Instructors are
			 competent in the subject matter and skilled in the use of appropriate teaching
			 methods that have been proven effective through educational research and
			 development.
(2) Course content and
			 materials are accurate and consistent with currently accepted standards
			 relating to the program's subject matter.
(3) Instructor and student materials are
			 updated no later than 30 days after the effective date of a change in
			 standards, laws or rules. Course content will not be considered current and
			 up-to-date unless the new standards have been incorporated into the course or
			 the instructor informs the participants of the new standards.
(4) Instructors attend workshops or
			 instructional programs, as reasonably requested by the commission, to ensure
			 that effective teaching techniques are used and current, relevant and accurate
			 information is taught.
(5) All
			 courses have an appropriate means of written evaluation by the participants.
			 Evaluations include but are not limited to relevance of material, effectiveness
			 of presentation and course content.
Iowa Administrative Code › Agency 193E - Real Estate Commission › Chapter 17 - Approval of Schools, Courses and Instructors › Rule 193E-17.9 - Standards for Approval of Classroom Courses

Current through Register Vol. 47, No. 3, July 24, 2024
(1) The commission may approve live classroom
			 courses, subject to the following criteria.
(2) The course application is accompanied by
			 a comprehensive course outline that includes:
a. Description of course.
b. Purpose of course.
c. Level of difficulty.
d. Detailed learning objectives for each
			 major topic that specify the level of knowledge or competency the student
			 should demonstrate upon completing the course.
e. Description of the instructional methods
			 utilized to accomplish the learning objectives.
f. Copies of all instructor and student
			 course materials.
g. Course
			 examination(s) or the diagnostic assessment method(s) utilized to achieve the
			 course learning objectives, when applicable.
h. A description of the plan in place to
			 periodically review course material with regard to changing federal and state
			 statutes.
i. A statement of any
			 attendance make-up policy that the school has in place.
Iowa Administrative Code › Agency 193E - Real Estate Commission › Chapter 17 - Approval of Schools, Courses and Instructors › Rule 193E-17.10 - Standards for Approval of Distance Learning Courses

Current through Register Vol. 47, No. 3, July 24, 2024
The commission may approve distance learning courses, subject
				to the following criteria:
(1) The
			 provider's purpose or mission statement is available to the public.
(2) The course outline includes clearly
			 stated learning objectives and desired student competencies for each module of
			 instruction and a description of how the program promotes interaction between
			 the learner and the program.
(3) The
			 course content is accurate and up-to-date. The provider describes the plan in
			 place to periodically review course material with regard to changing federal
			 and state statutes.
(4) The course
			 is designed to ensure that student progress is evaluated at appropriate
			 intervals and mastery of the material is achieved before a student can progress
			 through the course material.
a. Students
			 completing distance learning continuing education complete a final examination
			 containing 10 questions for a one-hour course, 20 questions for a two-hour
			 course, 30 questions for a three-hour course, 40 questions for a four-hour
			 course, and 60 questions for a six- or eight-hour course.
b. A passing score of 80 percent is needed
			 for course credit to be granted. There is no limit to the number of times a
			 final examination may be taken to achieve a passing score.