reglab/statecodes huggingface dataset:
Iowa Administrative Code › Agency 193E - Real Estate Commission › Chapter 3 - Broker License › Rule 193E-3.1 - Broker Licensure

Current through Register Vol. 47, No. 3, July 24, 2024
An applicant is only eligible for a broker license by
				satisfying Iowa Code section
				543B.15.
(1) An applicant for a real estate broker's
			 license who has been convicted of a disqualifying criminal offense in a court
			 of competent jurisdiction in this state or in any other state, territory, or
			 district of the United States, or in any foreign jurisdiction, may be denied a
			 license by the commission on the grounds of the conviction as provided by Iowa
			 Code section 272C.15 and rule
			 193-15.2 (272C).
(2) An applicant for a broker license may use
			 active experience as a former Iowa salesperson or active salesperson experience
			 in another state or jurisdiction, or a combination of both, to satisfy the
			 experience requirement for a broker license under Iowa Code section
			 543B.15(7) 
			 only if the former Iowa salesperson or applicant from another state or
			 jurisdiction was actively licensed for not less than 24 months and if the
			 license on which the experience is based has not been expired for more than
			 three years prior to the date the completed broker application with fee is
			 filed with the commission.
Iowa Administrative Code › Agency 193E - Real Estate Commission › Chapter 3 - Broker License › Rule 193E-3.2 - License Examination

Current through Register Vol. 47, No. 3, July 24, 2024
Examinations for licensure as a real estate broker are
				conducted by the commission's authorized representative.
(1)
Testing service.
The
			 commission will negotiate an agreement with a testing service relating to
			 examination development, test scheduling, examination sites, grade reporting
			 and analysis. The commission approves the form, contract, and method of
			 administration. The examination is conducted in accordance with approved
			 procedures formulated by the testing agency. Applicants register and pay
			 examination fees directly to the testing service.
(2)
Requests for waiver.
The
			 commission will consider each request for a waiver of commission rules or of
			 the qualifications for licensure on an individual basis. The commission may
			 require additional supporting information. If the applicant's experience or
			 prelicense education is found to be less than equivalent to the statutory
			 requirement, the commission may suggest methods of satisfying the deficiency.
			 If a waiver is granted, the applicable examination must be passed before the
			 end of the sixth month following the date of the waiver.
(3)
Eligibility to sit for
			 examination.
An individual may only sit for the examination after
			 meeting the qualifications set out in Iowa Code section
			 543B.15. An examinee is
			 obligated to show one of the following at the examination site:
a. Evidence that prelicense education has
			 been completed within the last two years.
b. The letter from the commission granting a
			 waiver of prelicense education.
c.
			 A written authorization from the commission for individuals planning to qualify
			 under rule 193E-5.3 (543B) or
			 193E-5.12 (543B).
d. A written authorization from the
			 commission for individuals planning to seek reinstatement of an expired
			 license.
Iowa Administrative Code › Agency 193E - Real Estate Commission › Chapter 3 - Broker License › Rule 193E-3.3 - Application for Broker License

Current through Register Vol. 47, No. 3, July 24, 2024
An applicant who applies for a broker's license will submit to
				the commission a completed application, license fee, proof of required
				education, and test score reports not later than the last working day of the
				sixth calendar month following the qualifying real estate examination. As
				required by Iowa Code section
				543B.15(9), the
				completed application must be received within 210 calendar days of the
				completion of the criminal history check.
(1)
Application contents.
The applicant for licensure attests to the accuracy of the detailed personal,
			 financial, and business information concerning the applicant included on the
			 application.
(2)
License
			 terms.
Real estate broker, salesperson, trade name, branch office, and
			 firm licenses are issued for a three-year term, counting the remaining portion
			 of the year issued as a full year. Licenses expire on December 31 of the third
			 year of the license term. Branch office licenses and trade name licenses are
			 issued for the remaining portion of the license term of the license to which
			 each is assigned.
(3)
Denial of application.
An application may be denied on the
			 grounds provided in Iowa Code chapter 543B and in rule
			 193-7.39 (546,272C). The
			 administrative processing of an application does not prevent the later
			 initiation of a contested case to challenge a licensee's qualifications for
			 licensure.
Iowa Administrative Code › Agency 193E - Real Estate Commission › Chapter 3 - Broker License › Rule 193E-3.4 - Broker Continuing Education

Current through Register Vol. 47, No. 3, July 24, 2024
(1) To renew a license in active status, each
			 broker or broker associate 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 term.
(2) Brokers
			 and broker associates complete approved courses in the following subjects to
			 renew to active status, except in accordance with 193E-Chapter 16.
Law Update
8 hours
Ethics
4 hours
Electives
24 hours
(3) A
			 license may be renewed in inactive status without the completion of continuing
			 education. Prior to reactivating a license which has been issued inactive due
			 to the licensee's failure to submit evidence of continuing education, the
			 licensee submits an application to reactivate to active status with evidence
			 that all deficient continuing education hours have been completed. The maximum
			 continuing education hours will not 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 3 - Broker License › Rule 193E-3.5 - Renewing a Broker License

Current through Register Vol. 47, No. 3, July 24, 2024
To remain authorized to act as a real estate broker, a broker
				renews a real estate license before the expiration date of the license. Brokers
				who fail to renew a real estate license before expiration are not authorized to
				practice as real estate brokers in Iowa. Termination of a broker's authority to
				practice real estate in Iowa automatically terminates the authority of all
				salespersons employed by or assigned to the broker.
(1)
Application forms.
Applications for renewal of a broker's license may be found on the commission's
			 website. Brokers renew electronically. While the commission generally mails
			 reminders to brokers in the November preceding license expiration, the failure
			 of the commission to mail a reminder does not excuse the broker from the
			 requirement to renew prior to the expiration of the license.
(2)
Qualifications for
			 renewal.
The commission grants an application to renew a broker's
			 license if:
a. The application is timely
			 received by the commission by December 31, or within the 30-day grace period
			 after expiration as provided by Iowa Code section
			 543B.28.
b. The application is accompanied by the
			 regular renewal fee and, if received by the commission after midnight December
			 31 but prior to midnight January 30, is accompanied by a penalty of
			 $25.
c. The application is fully
			 completed with all necessary information, including proper disclosure of
			 completed continuing education and errors and omissions insurance.
d. The application does not include grounds
			 to deny a license, such as the revocation of a license in another jurisdiction
			 or a criminal conviction.
Iowa Administrative Code › Agency 193E - Real Estate Commission › Chapter 3 - Broker License › Rule 193E-3.6 - Reinstatement of an Expired Broker License

Current through Register Vol. 47, No. 3, July 24, 2024
A real estate broker who fails to renew or file a completed
				renewal application by midnight January 30 of the first year following
				expiration may reinstate the license within three years of expiration by
				submitting a complete and sufficient application accompanied by the regular
				renewal fee and an additional reinstatement fee of $25 for each partial or full
				month following expiration. From the date of expiration to the date of
				reinstatement, the broker is not authorized to practice as a real estate broker
				in Iowa.
(1)
Continuing
			 education.
A broker either fully satisfied all continuing education or
			 has retaken and passed the broker examination to reinstate an expired broker
			 license.
(2)
Starting
			 over.
A broker who fails to reinstate an expired license by December
			 31 of the third year following expiration is treated as if the former broker
			 had never been licensed in Iowa. Such a former broker starts over in the
			 licensing process and must first qualify and apply for a salesperson
			 license.
(3)
Denial of
			 application.
An application may be denied on the grounds provided in
			 Iowa Code chapter 543B and in rule
			 193-7.39 (546,272C). The
			 administrative processing of an application does not prevent the later
			 initiation of a contested case to challenge a licensee's qualifications for
			 licensure.
Iowa Administrative Code › Agency 193E - Real Estate Commission › Chapter 4 - Salesperson License › Rule 193E-4.1 - General Criteria for Salesperson License

Current through Register Vol. 47, No. 3, July 24, 2024
A person who is licensed under and employed by or otherwise
				associated with a real estate broker or firm is a "salesperson" as defined in
				Iowa Code section 543B.5(20)  and
				rule 193E-2.1 (543B).
(1) An original application for a salesperson
			 license cannot be issued to inactive status.
(2) If the license is transferred, as
			 provided in rule 193E-6.2 (543B), the salesperson
			 may work immediately for the new broker.
(3) A salesperson is assigned to a licensed
			 broker or firm and cannot conduct business independently.
(4) Except as provided in Iowa Code section
			 543B.21, an applicant for a
			 salesperson license must meet all qualifications under Iowa Code section
			 543B.15.
(5) An applicant for a real estate
			 salesperson license who has been convicted of a disqualifying criminal offense
			 in a court of competent jurisdiction in this state or in any other state,
			 jurisdiction, territory, or district of the United States, or in any foreign
			 jurisdiction, may be denied a license by the commission on the grounds of the
			 conviction as provided by Iowa Code section
			 272C.15 and rule
			 193-15.2 (272C).
(6) An applicant for a real estate
			 salesperson license who has had a professional license of any kind revoked in
			 this or any other jurisdiction may be denied a license by the commission on the
			 grounds of the revocation.
(7)
			 Salesperson prelicense education requirements. As required by Iowa Code section
			 543B.15(8)  and
			 193E-Chapter 16, the required course of study for the salesperson licensing
			 examination consists of 60 live instruction or online learning hours of real
			 estate principles and practices. To be eligible to take the examination, the 60
			 live education or online learning hours of real estate principles and practices
			 are completed during the 12 months prior to taking the examination. The
			 applicant will also provide evidence of successful completion of the following
			 courses: 12 hours of Developing Professionalism and Ethical Practices, 12 hours
			 of Buying Practices and 12 hours of Listing Practices. The prelicense education
			 will expire after 12 months.
Iowa Administrative Code › Agency 193E - Real Estate Commission › Chapter 4 - Salesperson License › Rule 193E-4.2 - License Examination

Current through Register Vol. 47, No. 3, July 24, 2024
Examinations for licensure as a real estate salesperson are
				conducted by the commission or its authorized representative.
(1)
Testing service.
The
			 commission will negotiate an agreement with a testing service relating to
			 examination development, test scheduling, examination sites, grade reporting
			 and analysis. The commission will approve the form, contract, and method of
			 administration. The examination is conducted in accordance with approved
			 procedures formulated by the testing service. Applicants register and pay
			 examination fees directly to the testing service.
(2)
Requests for waiver.
The
			 commission will consider each request for a waiver of commission rules or of
			 the qualifications for licensure on an individual basis. The commission may
			 require additional supporting information. If the applicant's prelicense
			 education is found to be less than equivalent to the statutory requirement, the
			 commission may suggest methods of satisfying the deficiency. If a waiver is
			 granted, the applicable examination must be passed before the end of the sixth
			 month following the date of the waiver.
(3)
Eligibility to sit for
			 examination.
An individual may only sit for the examination after
			 meeting the qualifications set out in Iowa Code section
			 543B.15. An examinee is
			 obligated to show one of the following at the examination site:
a. Evidence that 60 live education or online
			 learning hours of real estate principles and practices have been
			 completed.
b. A letter from the
			 commission granting a waiver of prelicense education.
c. A written authorization from the
			 commission for individuals planning to qualify under rule
			 193E-5.3 (543B) or
			 193E-5.12 (543B).
Iowa Administrative Code › Agency 193E - Real Estate Commission › Chapter 4 - Salesperson License › Rule 193E-4.3 - Application for Salesperson License

Current through Register Vol. 47, No. 3, July 24, 2024
An applicant who passes a qualifying examination and applies
				for a license must file with the commission a completed application with
				license fee, proof of required education, and test score report not later than
				the last working day of the sixth calendar month following the qualifying real
				estate examination. As required by Iowa Code section
				543B.15(9), the
				completed application must be received within 210 calendar days of the
				completion of the criminal history check.
(1)
Application contents.
The application includes detailed personal, financial, and business information
			 concerning the applicant, and the applicant for licensure attests to its
			 accuracy.
(2)
License
			 terms.
A salesperson license is issued for a three-year term, counting
			 the remaining portion of the year issued as a full year. Licenses expire on
			 December 31 of the third year of the license term.
(3)
Denial of application.
An application may be denied on the grounds provided in Iowa Code chapter 543B
			 and in rule 193-7.39 (546,272C). The
			 administrative processing of an application does not prevent the later
			 initiation of a contested case to challenge a licensee's qualifications for
			 licensure.
Iowa Administrative Code › Agency 193E - Real Estate Commission › Chapter 4 - Salesperson License › Rule 193E-4.4 - Salesperson Continuing Education Requirements

Current through Register Vol. 47, No. 3, July 24, 2024
(1) As a requirement of license renewal in
			 active status, each salesperson completes a minimum of 36 hours of approved
			 programs, courses or activities during the three calendar years of the license
			 term, and continuing education hours cannot be carried over to another license
			 term.
(2) Salespersons renewing
			 licenses shall complete approved courses in the following subjects to renew to
			 active status, except in accordance with 193E-Chapter 16.
Law Update
						  ...............................................................
8 hours
Ethics
						  .....................................................................
4 hours
Electives
						  ..................................................................
24 hours
(3) A
			 salesperson license may be renewed to inactive status without completion of
			 continuing education. Prior to reactivating a license which has been issued
			 inactive due to failure to submit evidence of continuing education, the
			 licensee must submit evidence that all deficient continuing education hours
			 have been completed. The maximum continuing education hours shall not exceed
			 the prescribed number of hours of one license renewal period and must be
			 completed during the three calendar years preceding activation of the
			 license.
Iowa Administrative Code › Agency 193E - Real Estate Commission › Chapter 4 - Salesperson License › Rule 193E-4.5 - Renewing a License

Current through Register Vol. 47, No. 3, July 24, 2024
To remain authorized to act as a real estate salesperson, a
				salesperson must renew a real estate license before the expiration date of the
				license. Salespersons who fail to renew a real estate license before expiration
				are not authorized to practice as real estate salespersons in Iowa.
(1)
Application forms.
Applications for renewal of a salesperson license may be found on the
			 commission's website. Salespersons will renew electronically. While the
			 commission generally mails reminders to salespersons in the November preceding
			 license expiration, the failure of the commission to mail a reminder does not
			 excuse the salesperson from the requirement to timely renew.
(2)
Qualifications for
			 renewal.
The commission shall grant an application to renew a
			 salesperson license if:
a. The application is
			 timely received by the commission by December 31, or within the 30-day grace
			 period after expiration as provided by Iowa Code section
			 543B.28.
b. The application is accompanied by the
			 regular renewal fee and, if received by the commission after midnight December
			 31, but prior to midnight January 30, is accompanied by a penalty of
			 $25.
c. The application is fully
			 completed with all necessary information, including proper disclosure of
			 required continuing education and errors and omissions insurance.
d. The application fails to reveal grounds to
			 deny a license, such as a criminal conviction or the revocation of a license in
			 another jurisdiction.
Iowa Administrative Code › Agency 193E - Real Estate Commission › Chapter 4 - Salesperson License › Rule 193E-4.6 - Reinstatement of an Expired Salesperson License

Current through Register Vol. 47, No. 3, July 24, 2024
A real estate salesperson who fails to renew or fails to file a
				complete renewal application form by midnight January 30 of the first year
				following expiration may reinstate the license within three years of expiration
				by submitting a complete and sufficient application accompanied by the regular
				renewal fee and an additional reinstatement fee of $25 for each partial or full
				month following expiration. From the date of expiration to the date of
				reinstatement, the salesperson is not authorized to practice as a real estate
				salesperson in Iowa.
(1)
Continuing education.
An application to reinstate an expired
			 salesperson license must report that the salesperson either fully satisfied all
			 required continuing education or has retaken and passed the salesperson
			 examination. A salesperson holding an expired license who wishes to retake the
			 salesperson examination must obtain written authorization from the commission
			 to show at the examination site.
(2)
Deposit of reinstatement
			 fees.
Reinstatement fees collected under this rule shall be
			 transmitted to the treasurer's office and credited to the education fund
			 established in Iowa Code section
			 543B.54.
(3)
Starting over.
A
			 salesperson who fails to reinstate an expired license by December 31 of the
			 third year following expiration shall be treated as if the former salesperson
			 had never been licensed in Iowa. Such a former salesperson must start over in
			 the licensing process and qualify and apply for a salesperson
			 license.
(4)
Denial of
			 application.
An application may be denied on the grounds provided in
			 Iowa Code chapter 543B and in rule
			 193-7.39 (546,272C). The
			 administrative processing of an application shall not prevent the later
			 initiation of a contested case to challenge a licensee's qualifications for
			 licensure.
Iowa Administrative Code › Agency 193E - Real Estate Commission › Chapter 5 - Licensees of Other Jurisdictions and Reciprocity › Rule 193E-5.1 - Licensees of Other Jurisdictions

Current through Register Vol. 47, No. 3, July 24, 2024
As provided in Iowa Code section
				543B.21, a nonresident of this
				state may be licensed as a real estate broker or a real estate salesperson upon
				complying with all the provisions and conditions of Iowa Code chapter 543B and
				commission rules relative to resident brokers or salespersons.
(1) A person licensed in another state or
			 jurisdiction making application in Iowa by reciprocity or as provided in rule
			 193E-5.3 (543B) or
			 193E-5.12 (543B) may qualify for
			 a salesperson license in Iowa.
(2)
			 A person licensed as a broker or broker associate in another state or
			 jurisdiction making application in Iowa by reciprocity or as provided in rule
			 193E-5.3 (543B) or
			 193E-5.12 (543B) may qualify for
			 the same type of broker or broker associate license in Iowa. The person meets
			 all criteria for an Iowa broker license as provided in rule
			 193E-3.1 (543B). If the person
			 does not meet the criteria, the person may qualify for a salesperson license if
			 the person meets, at a minimum, the criteria for an Iowa salesperson license as
			 provided in 193E-Chapter 4.
(3) A
			 person may only perform activities in Iowa as provided by Iowa Code chapter
			 543B after qualifying for and being issued a real estate license.
Iowa Administrative Code › Agency 193E - Real Estate Commission › Chapter 5 - Licensees of Other Jurisdictions and Reciprocity › Rule 193E-5.2 - Nonresident Application

Current through Register Vol. 47, No. 3, July 24, 2024
Each applicant under rule
				193E-5.3 (543B) or under a
				reciprocal licensing agreement or memorandum applies on forms provided by the
				commission under Iowa Code section
				543B.16. The application
				includes but is not limited to a certification of license from the state of
				original licensure containing all information required by Iowa Code section
				543B.21 and an affidavit
				certifying that the applicant has reviewed and is familiar with and will be
				bound by the Iowa real estate license law and the rules of the
				commission.
Iowa Administrative Code › Agency 193E - Real Estate Commission › Chapter 5 - Licensees of Other Jurisdictions and Reciprocity › Rule 193E-5.3 - License by Examination

Current through Register Vol. 47, No. 3, July 24, 2024
A nonresident applicant licensed as a real estate salesperson
				or broker in a state or jurisdiction which does not have a reciprocal licensing
				agreement or memorandum with Iowa, or an applicant who does not qualify for
				reciprocal licensing, may be issued a comparable Iowa license by passing the
				real estate examination under the following circumstances:
(1) Broker. The person has been actively
			 licensed as a broker or broker associate, the person meets all criteria for an
			 Iowa broker's license as provided in rule
			 193E-3.1 (543B), and the license
			 has not been inactive or expired for more than six months immediately preceding
			 the date of passage of the national portion and Iowa portion of the broker real
			 estate examination.
(2)
			 Salesperson. The person has been actively licensed as a salesperson and the
			 license has not been inactive or expired for more than six months immediately
			 preceding the date of passage of the Iowa portion of the salesperson real
			 estate examination.
(3) The
			 applicant submits a written request for authorization to sit for the
			 appropriate examination.
(4) The
			 applicant submits certification of the applicant's current qualifying license
			 from the licensing authority that issued the license.
Iowa Administrative Code › Agency 193E - Real Estate Commission › Chapter 5 - Licensees of Other Jurisdictions and Reciprocity › Rule 193E-5.4 - Licensure by Reciprocity

Current through Register Vol. 47, No. 3, July 24, 2024
The commission may, as provided in Iowa Code section
				543B.21, enter into specific
				written reciprocal licensing agreements or memorandums with other individual
				states or jurisdictions having similar licensing criteria and grant an Iowa
				license to licensees from those states or jurisdictions on the same basis as
				Iowa licensees are granted licenses by those states or jurisdictions.
(1) The applicant is not a resident of
			 Iowa.
(2) A license issued pursuant
			 to this rule is based upon a nonresident sales person or broker license issued
			 by examination.
(3) A license
			 issued pursuant to this rule is assigned to the same broker or firm as the
			 nonresident license upon which it is based.
(4) If an applicant establishes residency in
			 Iowa, that person does not qualify for licensure by reciprocal licensing
			 agreement or memorandum.
(5) An
			 Iowa license issued by reciprocity is based upon the nonresident license issued
			 by examination in that other state or jurisdiction and is issued to the same
			 broker and location as the nonresident license. The nonresident broker and
			 firm, if applicable, must also be licensed in Iowa.
(6) A reciprocity agreement or memorandum of
			 understanding is only a method to apply for licensure and does not grant any
			 exception to mandatory license laws of Iowa or the other state or
			 jurisdiction.
(7) An Iowa licensee
			 wishing to obtain a license in any other state or jurisdiction should contact
			 that state's or jurisdiction's licensing board for information and
			 applications.
Iowa Administrative Code › Agency 193E - Real Estate Commission › Chapter 5 - Licensees of Other Jurisdictions and Reciprocity › Rule 193E-5.5 - Renewal of a License Issued by Reciprocity

Current through Register Vol. 47, No. 3, July 24, 2024
All renewal criteria for a real estate broker or salesperson
				license issued by examination apply to a license issued by reciprocity.
Continuing education reciprocity is specifically provided for
				in the reciprocal license agreement or memorandum, or in a separate reciprocal
				continuing education agreement or memorandum.
Iowa Administrative Code › Agency 193E - Real Estate Commission › Chapter 5 - Licensees of Other Jurisdictions and Reciprocity › Rule 193E-5.6 - Reinstatement of a License Issued by Reciprocity

Current through Register Vol. 47, No. 3, July 24, 2024
All reinstatement criteria for a real estate broker license or
				salesperson license issued by examination apply to a license issued by
				reciprocity.
(1) Starting over. A
			 broker or salesperson who fails to file a complete application to reinstate an
			 expired license by midnight December 31 of the third year following expiration
			 is treated as if the former broker or salesperson had never been licensed in
			 Iowa.
(2) A broker or salesperson
			 must qualify for reciprocity in order to reinstate an expired reciprocal broker
			 or salesperson license.
(3) If the
			 broker or salesperson has moved into Iowa and no longer qualifies for
			 reciprocity, the expired license is reinstated in the same manner as a license
			 issued by examination as provided in rule
			 193E-3.6 (272C,543B) for brokers
			 and rule 193E-4.6 (272C,543B) for
			 salespersons.
Iowa Administrative Code › Agency 193E - Real Estate Commission › Chapter 5 - Licensees of Other Jurisdictions and Reciprocity › Rule 193E-5.7 - Nonresident Real Estate Offices and Licenses Required

Current through Register Vol. 47, No. 3, July 24, 2024
All nonresident applicants for licensure in Iowa shall qualify
				for and obtain a license pursuant to Iowa Code section
				543B.2(2)  and
				rule 193E-7.1(543B).
(1) If the
			 applicant is a broker associate or salesperson of a nonresident broker, the
			 nonresident employing broker must have an Iowa broker license.
(2) If the applicant is employed by or
			 otherwise associated with a nonresident real estate firm as defined in rule
			 193E-2.1 (543B), that firm must
			 apply and qualify for an Iowa license.
a. No
			 firm as defined in rule
			 193E-2.1 (543B) may be granted
			 an Iowa license unless at least one member or officer of the firm applies for
			 and is granted an Iowa broker license.
b. Every member or officer of the firm and
			 every employee or associated real estate licensee who acts as a real estate
			 broker, broker associate, or salesperson in Iowa must apply for and be granted
			 an Iowa license.
Iowa Administrative Code › Agency 193E - Real Estate Commission › Chapter 5 - Licensees of Other Jurisdictions and Reciprocity › Rule 193E-5.8 - Actions Against Nonresidents

Current through Register Vol. 47, No. 3, July 24, 2024
The application for a nonresident license is accompanied by an
				executed irrevocable written consent to suits and actions at law or in equity
				as provided in Iowa Code section
				543B.23.
Iowa Administrative Code › Agency 193E - Real Estate Commission › Chapter 5 - Licensees of Other Jurisdictions and Reciprocity › Rule 193E-5.9 - Nonresident Continuing Education

Current through Register Vol. 47, No. 3, July 24, 2024
Nonresident licensees shall fully comply with all continuing
				education unless a separate education agreement is in place between Iowa and
				the nonresident state or jurisdiction.
Iowa Administrative Code › Agency 193E - Real Estate Commission › Chapter 5 - Licensees of Other Jurisdictions and Reciprocity › Rule 193E-5.10 - License Discipline Reporting

Current through Register Vol. 47, No. 3, July 24, 2024
If an Iowa licensee has a real estate license disciplined,
				suspended or revoked by any other state or jurisdiction, that disciplinary
				action will be considered prima facie evidence of violation of Iowa Code
				section 543B.29 or
				543B.34 or both, and a hearing
				may be held to determine whether similar disciplinary action should be taken
				against the Iowa licensee. Failure to notify the commission within 15 days of
				an adverse action taken by another state or jurisdiction is cause for
				disciplinary action.
Iowa Administrative Code › Agency 193E - Real Estate Commission › Chapter 5 - Licensees of Other Jurisdictions and Reciprocity › Rule 193E-5.11 - Licensure by Verification

Current through Register Vol. 47, No. 3, July 24, 2024
A person licensed in another state or jurisdiction may qualify
				for an Iowa salesperson or broker license through verification by making
				application as provided in rule
				193-14.4 (272C). In addition to
				all requirements provided by rule
				193-14.4 (272C), an applicant
				for a license through verification shall also submit to the commission proof of
				passing the Iowa portion of the salesperson or broker real estate
				examination.
(1)
License
			 terms.
Once the applicant submits an approved application and
			 appropriate licensing fees, a license will be issued for a three-year term,
			 counting the remaining portion of the year issued as a full year. Licenses
			 expire on December 31 of the third year of the license term.
(2) Reserved.
Iowa Administrative Code › Agency 193E - Real Estate Commission › Chapter 5 - Licensees of Other Jurisdictions and Reciprocity › Rule 193E-5.12 - Licensure by Verification

Current through Register Vol. 47, No. 3, July 24, 2024
A person licensed in another state or jurisdiction may qualify
				for an Iowa salesperson or broker license through verification by making
				application as provided in rule
				193-14.4 (272C). In addition to
				all requirements provided by rule
				193-14.4 (272C), an applicant
				for a license through verification shall also submit to the commission proof of
				passing the Iowa portion of the salesperson or broker real estate
				examination.
(1)
Temporary
			 licenses.
Applicants who satisfy all requirements for a license by
			 verification under this rule except for passing the Iowa portion of the
			 salesperson or broker real estate examination may be issued a temporary license
			 that is valid for a period of three months and may be renewed once for an
			 additional period of three months. The applicant must submit proof of passing
			 the Iowa portion of the salesperson or broker real estate examination before
			 the temporary license expires.
(2)
License terms.
Once the applicant submits proof of passing the
			 Iowa portion of the salesperson or broker real estate examination before the
			 temporary license expires, a license will be issued for a three-year term,
			 counting the remaining portion of the year issued as a full year. Licenses
			 expire on December 31 of the third year of the license
			 term.
Iowa Administrative Code › Agency 193E - Real Estate Commission › Chapter 6 - Termination and Transfer › Rule 193E-6.1 - Terminating Employment or Association

Current through Register Vol. 47, No. 3, July 24, 2024
When a licensee is discharged by the affiliated broker or the
				licensee terminates the employment or association with the affiliated broker,
				the licensee immediately ceases all activities that need an active real estate
				license until such time as a new affiliated broker makes written request for
				the license and the license is reassigned to the new affiliated broker.
(1) When a broker discharges a salesperson or
			 broker associate, the broker complies with all criteria of Iowa Code section
			 543B.33. The releasing broker
			 makes a reasonable effort to ensure that an application to inactivate the
			 licensee is submitted electronically to the commission within 72 hours of the
			 discharge date.
(2) The licensee
			 may terminate the employment or association by providing written notice to the
			 affiliated broker advising the effective date of the termination and requesting
			 that the license be immediately returned to the commission. The affiliated
			 broker cannot refuse to comply with the request. The releasing broker makes
			 every reasonable effort to ensure that the commission receives the electronic
			 application within 72 hours of the termination date.
Iowa Administrative Code › Agency 193E - Real Estate Commission › Chapter 6 - Termination and Transfer › Rule 193E-6.2 - Transfer of License and Necessary Transfer Application

Current through Register Vol. 47, No. 3, July 24, 2024
All requests for transfer of license are made on the necessary
				electronic application for license transfer available from the commission. The
				license transfer application is only used for transferring the license from the
				affiliated broker to a new affiliated broker. This transfer application is only
				to be used if the transferring licensee has obtained the necessary information
				from the new affiliating broker. The license transfer application cannot be
				used for licensees who are terminated or who quit prior to obtaining a new
				affiliating broker. The transfer application cannot be backdated to a new
				affiliated broker.
(1) The license
			 transfer process involves three steps, and each step needs to be correctly
			 completed to qualify as a valid transfer. The steps are as follows:
a. The transferring licensee submits the
			 electronic transfer application available from the commission.
b. Both the new affiliating broker and
			 releasing broker electronically approve the transfer request within 48 hours of
			 receiving notification from the commission of the transfer request.
c. The electronic transfer application is
			 approved and issued by the commission.
Iowa Administrative Code › Agency 193E - Real Estate Commission › Chapter 6 - Termination and Transfer › Rule 193E-6.3 - Broker Authorized

Current through Register Vol. 47, No. 3, July 24, 2024
Authorization from the following actively licensed brokers is
				required to return the license of a discharged or terminated salesperson or
				broker associate, to request that a license be issued, and to sign the license
				transfer form:
1. Sole-proprietor or
			 single broker
2. Broker officer of
			 a corporation or firm.
3. Broker
			 partner
4. Designated broker in
			 charge.
5. Broker in charge of a
			 branch office.
Iowa Administrative Code › Agency 193E - Real Estate Commission › Chapter 7 - Offices and Management › Rule 193E-7.1 - Real Estate Offices and Licenses Needed

Current through Register Vol. 47, No. 3, July 24, 2024
(1) Every Iowa resident real estate firm or
			 self-employed broker maintains an office as provided in Iowa Code section
			 543B.31.
A nonresident Iowa real estate broker or firm is not obligated
				to maintain a definite place of business within Iowa as provided in Iowa Code
				section 543B.22.
(2) Sharing office space. It is acceptable
			 for more than one broker to operate in an office at the same address if each
			 broker maintains all records and trust accounts separate from all the others.
			 Each broker operates under a business name, which clearly identifies the broker
			 as an individual within the group of brokers.
(3) Branch office. A licensed Iowa real
			 estate firm or sole-proprietor broker maintaining a branch office displays a
			 commission-issued branch office license in that location. The branch office
			 license is issued in the name of the firm or sole-proprietor broker and
			 includes the license number and the physical address of the branch office. The
			 branch office license is issued at a reduced fee and has the same expiration
			 date of the primary license.
(4)
			 When a real estate brokerage firm closes, the principal broker or a designated
			 representative follows procedures as provided in 193E-Chapter 8.
(5) A licensed officer of a corporation or
			 partnership may be licensed as an officer or partner of more than one
			 corporation or partnership. The main or primary license for which the full
			 license fee was paid is maintained in active status to keep any additional
			 licenses that were issued at a reduced fee active and in effect. A broker
			 officer licensed to more than one corporation or partnership may be the
			 designated broker of more than one corporation or partnership.
Continuing education is needed only for renewal of the main or
				primary license.
(6) When a
			 branch office closes, notice in writing, electronically or otherwise, shall be
			 given to the commission.
(7) Each
			 actively licensed broker associate and salesperson is licensed under a
			 broker.
(8) A broker associate or
			 salesperson may not be licensed under more than one broker during the same
			 period of time.
Iowa Administrative Code › Agency 193E - Real Estate Commission › Chapter 7 - Offices and Management › Rule 193E-7.2 - Notification Needed

Current through Register Vol. 47, No. 3, July 24, 2024
(1) Partnerships, associations, and
			 corporations are obligated to obtain a license before acting as a real estate
			 broker. Failure of a broker to inform the commission in writing, electronic or
			 otherwise, within five working days that the broker has formed a new
			 partnership, association or corporation, or has changed the type of the
			 business, is prima facie evidence of a violation of Iowa Code section
			 543B.1.
(2) Failure of a broker to inform the
			 commission in writing, electronic or otherwise, within five working days of a
			 change in type of license as sole-proprietor broker, partner, officer or broker
			 associate is prima facie evidence of a violation of Iowa Code sections
			 543B.1 and
			 543B.29(1).
(3) Failure of a broker to inform the
			 commission in writing, electronic or otherwise, within five working days of a
			 change of address of a proprietorship, partnership, or corporation is prima
			 facie evidence of a violation of Iowa Code section
			 543B.32.
(4) Failure of a broker to return a license
			 electronically to the commission office to ensure that it is received within 72
			 hours after a salesperson or broker associate is discharged or terminates
			 employment is prima facie evidence of a violation of Iowa Code section
			 543B.33.
(5) Failure of a licensee to inform the
			 commission in writing, electronic or otherwise, within five working days of a
			 change of residence address or mailing address is prima facie evidence of a
			 violation of Iowa Code sections
			 543B.16 and
			 543B.18.
Iowa Administrative Code › Agency 193E - Real Estate Commission › Chapter 7 - Offices and Management › Rule 193E-7.3 - Suspended and Revoked Licenses

Current through Register Vol. 47, No. 3, July 24, 2024
(1) As of the effective date of a suspended
			 or revoked license, the licensee cannot engage in any activity that needs a
			 real estate license as defined in Iowa Code chapter 543B.
(2) When a sole-proprietor broker,
			 corporation or partnership license is suspended or revoked, all licensees
			 associated with or assigned to that sole-proprietor broker, corporation or
			 partnership are automatically placed on inactive status for the duration of the
			 suspension or revocation, unless transferred to another sole-proprietor broker,
			 corporation or partnership.
a. When a
			 suspension or revocation is determined, the commission also determines whether
			 the corporation or partnership license is automatically canceled.
b. If the broker whose license is suspended
			 or revoked is the only licensed broker officer of a corporation, the
			 corporation license will automatically be canceled.
Iowa Administrative Code › Agency 193E - Real Estate Commission › Chapter 7 - Offices and Management › Rule 193E-7.5 - Loan Finder Fees

Current through Register Vol. 47, No. 3, July 24, 2024
The acceptance of a fee or anything of value by a real estate
				licensee from a lender or financing company for the referral or steering of a
				client to the lender for a loan is considered not in the best interest of the
				public and constitutes a violation of Iowa Code sections
				543B.29(3)  and
				543B.34(8).
Iowa Administrative Code › Agency 193E - Real Estate Commission › Chapter 7 - Offices and Management › Rule 193E-7.6 - Lotteries Barred

Current through Register Vol. 47, No. 3, July 24, 2024
Licensees cannot engage in lotteries and schemes of sales
				involving selling of certificates, chances or other devices, whereby the
				purchaser is to receive property to be selected in an order to be determined by
				chance or by some means other than the order of prior sale, or whereby property
				more or less valuable will be secured according to chance or the amount of
				sales made, or whereby the price will depend upon chance or the amount of sales
				made, or whereby the buyer or tenant will not receive, rent, or lease any
				property. Such activities are declared to be methods by reason of which the
				public interests are endangered.
Iowa Administrative Code › Agency 193E - Real Estate Commission › Chapter 7 - Offices and Management › Rule 193E-7.7 - Broker Needed to Furnish Progress Report

Current through Register Vol. 47, No. 3, July 24, 2024
After an offer to buy has been made by a buyer and accepted by
				a seller, either party may demand at reasonable intervals and the broker
				furnishes a detailed statement showing the current status of the
				transaction.
Iowa Administrative Code › Agency 193E - Real Estate Commission › Chapter 7 - Offices and Management › Rule 193E-7.8 - Disclosure of Licensee Interest, Acting as a Principal, and Status as a Licensee

Current through Register Vol. 47, No. 3, July 24, 2024
A licensee cannot act in a transaction on the licensee's own
				behalf, on behalf of the licensee's immediate family, or on behalf of the
				brokerage, or on behalf of an organization or business entity in which the
				licensee has an interest, unless the licensee provides written disclosure of
				that interest to all parties to the transaction in accordance with Iowa Code
				section 543B.56(3)
"b."
Disclosure obligated under this rule is
				made at the time of or prior to the licensee's providing specific assistance to
				the party or parties to the transaction. Copies of the disclosure may be
				provided in person, electronically or by mail, as soon as reasonably practical.
				If no specific assistance is provided, disclosure is provided prior to the
				parties' forming a legally binding contract, either prior to an offer made by
				the buyer or tenant or prior to an acceptance by the seller or landlord,
				whichever comes first.
(1)
Licensee acting as a principal.
A licensee cannot acquire any
			 interest in any property, directly or indirectly, nor can the licensee sell any
			 interest in which the licensee, directly or indirectly, has an interest without
			 first making written disclosure of the licensee's true position clear to the
			 other party. Satisfactory proof of this disclosure is produced by the licensee
			 upon request of the commission. Whenever a licensee is in doubt as to whether
			 an interest, relationship, association, or affiliation obligates disclosure
			 under this rule, the safest course of action is to make the written
			 disclosure.
(2)
Status as a
			 licensee.
Before buying, selling, or leasing real estate as described
			 above, the licensee discloses in writing any ownership, or other interest,
			 which the licensee has or will have and the licensee's status to all parties to
			 the transaction. An inactive status license does not exempt a licensee from
			 providing the obligated disclosure.
(3)
Dual capacity.
The
			 licensee does not act in a dual capacity of agent and undisclosed principal in
			 any transaction.
Iowa Administrative Code › Agency 193E - Real Estate Commission › Chapter 7 - Offices and Management › Rule 193E-7.9 - Financial Interest Disclosure Needed

Current through Register Vol. 47, No. 3, July 24, 2024
A licensee who has any affiliated business arrangement or
				relationship with any provider of settlement services, as defined below, and
				directly or indirectly refers business to that provider or affirmatively
				influences the selection of that provider discloses the arrangement and any
				financial interest to the person whose business is being referred or
				influenced. The obligated disclosure is acknowledged by the separate signatures
				of the person or persons whose business is being referred or influenced. The
				disclosure is given and signed before or at substantially the same time that
				the business is referred or the provider is selected. If the disclosure is made
				on a separate form, the licensee retains a copy of the signed disclosure in the
				transaction file for a period of five years after the execution.
(1) An affiliated business arrangement means
			 an arrangement in which a real estate licensee, or an associate of a real
			 estate licensee, has either an affiliate relationship with or a direct or
			 beneficial ownership interest of more than 1 percent in the business entity
			 providing the service or product.
a. An
			 associate means one who has one or more of the following relationships with a
			 real estate licensee:
(1) A spouse, parent,
			 or child of a real estate licensee;
(2) A corporation or business entity that
			 controls, is controlled by, oris under common control with a real estate
			 licensee;
(3) An employee, officer,
			 director, partner, franchiser or franchisee of a real estate licensee;
			 or
(4) Anyone who has an agreement,
			 arrangement or understanding with a real estate licensee or brokerage, the
			 purpose or substantial effect of which is to enable the real estate licensee to
			 refer for any service, settlement service, or business or product related to
			 the transaction and to benefit financially from the referral of that
			 business.