It is unlawful for any person, directly or indirectly, to engage in or conduct, to advertise or claim to be engaging in or conducting the business, or acting in the capacity of a real estate broker, affiliate broker, time-share salesperson or acquisition agent, as defined in § 62-13-102, within this state, without first obtaining a […]
It is unlawful for any licensed broker to employ or compensate any person who is not a licensed broker or a licensed affiliate broker for performing any of the acts regulated by this chapter. A licensed broker may pay a commission to a licensed broker of another state if the nonresident broker does not conduct […]
Licenses shall be granted only to persons who bear a good reputation for honesty, trustworthiness, integrity and competence to transact the business of broker, affiliate broker or time-share salesperson in a manner to safeguard the interest of the public and only after satisfactory proof of such qualifications has been presented to the commission. No license […]
In addition to submitting proof of honesty, trustworthiness, integrity and good reputation, each applicant shall pass a written examination prepared by or under the supervision of the commission. The examination may be given orally at the discretion of the commission if a written examination is precluded by reason of physical disability. The examination shall be […]
The commission shall prescribe in its rules and regulations all fees to be paid before any examinations shall be given or licenses issued by the commission as provided in this chapter.
Each office shall have a real estate firm license, a principal broker and a fixed location with adequate facilities for affiliated licensees, located to conform with zoning laws and ordinances. Each branch location shall comply with the requirements of subdivision (a)(1)(A). The license of a broker and of each affiliate broker under contract to the […]
Whenever the contractual relationship between a broker and affiliate broker is terminated, the present broker shall immediately sign and date the change of affiliation form prescribed by the commission. The affiliate broker may act under a contract with another broker upon completion and transmittal to the commission of the form, accompanied by the fee established […]
Whenever any person, partnership, association, company, firm or corporation claiming to have been injured or damaged by the gross negligence, incompetency, fraud, dishonesty or misconduct on the part of any licensee following the calling or engaging in the business described in this chapter files suit upon the claim against the licensee in any court of […]
The commission may, upon its own motion, and shall, upon the verified complaint in writing of any person setting forth a cause of action under this section, ascertain the facts and, if warranted, hold a hearing for reprimand or for the suspension or revocation of a license. The commission shall have the power to refuse […]
Before refusing to issue a license or suspending or revoking an existing license upon the verified written complaint of any person setting out a cause of action under § 62-13-312, the commission shall, in writing, notify the accused applicant or licensee of its receipt of the complaint, enclosing a copy of the complaint. The accused […]
A nonresident of this state who is a licensed broker, affiliate broker or time-share salesperson or equivalent real estate licensee in another state may apply for a license as a broker or affiliate broker in this state by submitting appropriate application to the commission. The nonresident applicant need not maintain a place of business within […]
The commission shall keep a register of all applicants for license, showing for each the date of application, name, place of business, place of residence and whether the license was granted or refused. The register shall be prima facie evidence of all matters recorded in the register.
The commission may, from time to time, at its discretion, publish a directory of all brokers and affiliate brokers licensed by the commission. The directory shall contain other data that the commission may determine to be in the interest of the public. The directory shall be mailed to and placed on file in the office […]
Upon written request accompanied by the license and the fee for change of status, any real estate firm, real estate broker, affiliate broker, time-share salesperson, or acquisition agent may temporarily retire the license. If the retiree wishes to remain in retirement for any portion of a subsequent license renewal period, the retiree shall pay the […]
The license of any broker, affiliate broker, time-share salesperson or acquisition agent who fails timely to pay a renewal or retirement fee or to comply with any prerequisite or condition to licensure or renewal may be reinstated without examination within sixty (60) days after the expiration date of the license upon providing proof of compliance […]
The holder of a valid broker’s license shall, upon the holder’s written request, be entitled to surrender the license to the commission in exchange for an affiliate broker’s license.
Every broker shall, in accordance with rules promulgated by the commission under § 62-13-203, keep an escrow or trustee account of funds deposited with the broker relating to a real estate transaction. The broker shall maintain for a period of at least (3) years accurate records of the account showing: The depositor of the funds; […]
The principal broker of a real estate firm that does not engage in activities that require the acceptance of any funds belonging to others may receive from the Tennessee real estate commission a waiver from § 62-13-321. Upon receipt of a waiver by the Tennessee real estate commission pursuant to subsection (a), a principal broker […]
In order to be eligible for approval by the commission, a course in real estate designed to meet the educational requirements established in § 62-13-303 shall be under the personal and direct supervision of an instructor who: Has completed a Tennessee real estate commission approved course in instructor training; Holds a diploma or certificate evidencing […]
“Distance education” shall be used interchangeably with “correspondence courses” and includes all education in which instruction does not take place in a traditional classroom setting but rather through other media where the teacher and student are separated by distance or by time. Distance education courses approved by the commission shall be completed within one (1) […]
