Unit 2 Summary - McKissock Learning

Unit 2 Summary

Alabama License Law: Applicant Eligibility-Licensing Requirements

Any person who becomes licensed as a broker or salesman may advertise his own property in the same way as any private party. No license needed:

? An owner involving his own real estate; ? An attorney-at-law; ? A person acting without compensation and in good faith under power of attorney; ? A public officer; ? A person acting as the manager for an apartment building or complex ? Transactions involving cemetery lots.

A license that has been issued to a broker or a salesperson must be registered to a specific real estate office. ? Must be both trustworthy and competent. ? Must not have had an application or license rejected or revoked within the past two years in any state.

The applicant must: ? Be at least 19 years old. ? Be a citizen of the US or an alien with permanent resident status. ? If he is a nonresident, agree to sign an affidavit giving the Alabama Real Estate Commission jurisdiction.

There is more than one case in which the applicant can be rejected - not just by conviction, but also by pleading guilty or "no contest" (nolo contendre) to a felony or crime involving moral turpitude.

Alabama allows that those individuals holding current real estate salesperson licenses in other states may apply for a reciprocal salesperson license in Alabama.

? Provide proof that he has a current real estate license in another state. ? Complete six hours of reciprocal salesperson prelicense coursework

A person holding a reciprocal license must provide proof of completion of continuing education.

Anyone who becomes a resident of another state must notify the Commission within 10 days, by submitting a notice of change of address and all other license status changes. Applying for a salesperson license:

? High school graduate or the equivalent. ? Completed a course in real estate, a minimum of 60 clock hours.

Applications may also be made for company licenses.

If more than one place of business is maintained in the state, there must be a company license for each separate location or branch office.

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Revised 4/30/2019

Unit 2 Summary

Alabama License Law: Applicant Eligibility-Licensing Requirements

A person cannot be a qualifying broker for more than one company, or for a company and on his own behalf unless:

? All companies consent to this arrangement in writing. ? He files a copy of the written consent with the Commission. ? He will be doing business from the same location.

A broker must hold a separate broker license for each firm which he or she represents as a broker.

Alabama real estate law states that a company license becomes invalid upon the death or disability of a qualifying broker.

The company may operate under the temporary qualifying broker for a maximum of six months.

Any applicant whose application is not deemed acceptable may request a hearing before the Commission.

Every applicant for a broker's or salesperson's license must take a reasonable written examination.

Within 90 DAYS after passing the examination, the applicant must apply for an temporary license and meet all of the requirements.

The applicant is not officially licensed until the temporary license certificate is issued from the Commission. A temporary license remains valid only for one year.

A temporary license is not subject to renewal procedures, and therefore may not be renewed.

The holder of a temporary license must not only successfully complete the post-license course, but must also apply for the original license within the deadline.

The holder of an original license, who has completed the post-license course, will not be subject to the continuing education requirements for the first renewal.

In a co-brokerage agreement with a nonresident broker, it is the responsibility of the Alabama broker to file a copy with the Commission within 10 days of signing.

The Alabama broker will:

? Require a listing agreement of the property involved. ? Supervise the showing of property. ? The name of the Alabama broker shall appear in all advertising. ? Be liable for all acts of the out-of-state broker.

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