Home Latest Posts Missouri Real Estate Commission

Missouri Real Estate Commission

5 min read
Comments Off on Missouri Real Estate Commission
0
42

Missouri Real Estate Commission has provided administrative support to a number of professional licensing boards and commissions, who are responsible for license and regulation activities of the residents in Missouri. The Missouri Division exists to serve and protect the public from being incompetent, misconduct, gross negligence, fraud, misinterpretation or dishonesty through providing an accessible, accountable, and responsible regulatory system that gives license to the qualified professional individuals that have examined and evaluated the minimum competency and enforces that is standard for the implementation of legislation and administrative rules. The Board and Commissions process applications, administer examinations that issue licenses, conduct investigations on possible professional misconduct when warranted and has the power to revoke or suspend the license practitioners.

The Missouri Real Estate Commission was approved by the Missouri governor last July 1941 and was created by the Act of the 61st General Assembly. Under the provision of the real estate act, a real estate broker or salesperson must first provide a license from the Commission. As the Commission investigate complaints that are voiced out by the consumers against the acts of the licensee and as the Commission audits the real estate escrow accounts to verify the proper handling of buyer’s earnest money, and approving all real estate prelicensing and continuing educational courses are the included responsibilities of the Commission.

The Commission set meetings regularly to review complaints, investigations and audits and other matters that needs to be discussed. They carry out the duties and responsibilities stipulated by the real estate license law. The Missouri Real Estate Commission is composed of seven voting members and among the members, six must have at least 10 years of experience as real estate brokers. The seventh member of the Commission serves as the public member, each member of the Commission is appointed for a five-year term.

Resident and Nonresidents of Missouri can obtain a license, although they have a distinction with the requirements needed.  To obtain a Missouri license, all applicants must be 18 years of age, shows evidence of being fingerprinted through the approved statewide vendor. Furthermore, all applicants, may it be resident or nonresident, are required to undergo fingerprinting for a Missouri and Federal criminal history background check. 3M/Cogent must be contacted for fingerprinting prior to the application for licensure. Eligibility requirements must be met and the examinations required must be passed.  The application must be submitted within 6 months of the date the 48-hour pre-examination course completion.

And if you wish to renew your information, there are a few important reminders. With the online renewal process, you CANNOT do the following situations: Change address or name, until the continuing education is complete and on file with MREC you cannot renew online, transfer the license from one broker to another, change the license status, and late renewals. As late renewals CANNOT be submitted online, the Commission also imposed a penalty regarding late renewals, it is subject to $50 per month, or a partial month penalty with a maximum of $200.

Load More Related Articles
Load More By Lewis Robinson
Load More In Latest Posts
Comments are closed.

Check Also

Stay-At-Home Moms As Real Estate Agents

Since 2016, the number of professionals working at home has significantly increased, and t…