This is largely due to liability risks of not only being a new licensee but also because of a higher risk of doing your own deals.

More money in licensees pockets..less for the actual lenders.

Hi there!I am about to take my RE exam. My boyfriend and I have saved up enough for a down payment to start our RE investing business! I plan to get my license with the primary purpose to save on agent costs, access t...

that not mentioning in the contract/anywhere else, at all, that they charge something for coordinating vendors - while, in fact, take ANY undisclosed compensation (and, incidentally, do not provide invoices as a matter of policy) - is compliant with TREC.It gets better: I recently had a local RE attorney, who allegedly deals with many major local PMs, claim to me that, even if there is no prior disclosure by the PM that the PM charges anything for dealing with vendors, as long as the PM tells the principal the total cost, and the principal agrees to it - before the vendor does the job - this is compliant with “annotated” (the lawyer’s stipulation) 62-12-312(b)(17).If you missed it: A local TN- and MS-licensed RE lawyer claims that no disclosure of the PM taking any cut is necessary - as long as the principal is told the job’s total ahead of time, and agrees.I have no idea where this lawyer happened to find any annotation like that for 62-12-312 - I did not, at least not in Westlaw at my law library.And this “industry standard” (attorney’s words) appears to be in serious conflict with the actual law, as far as my non-lawyer reading of it goes:“(b) The commission shall have the power to refuse a license for cause or to suspend or revoke a license where it has been obtained by false representation or by fraudulent act or conduct, or where a licensee, in performing or attempting to perform any of the acts mentioned herein, is found guilty of:(17) Paying or accepting, giving or charging any undisclosed commission, rebate, compensation or profit or expenditures for a principal or in violation of this chapter;…”Literally right there: “… accepting or charging any UNDISCLOSED commission, rebate, compensation or profit or expenditures for a principal.”But it may not end there:If you add to the above circumstances that the principal began to suspect this (undisclosed) practice and asked the PM whether it engages in up-charging/marking up vendor invoices - and the PM denied it - and they continued to do business as before after that denial… until the principal obtained evidence, which only then forced the PM to admit the practice, somewhere in there a “mere” TREC violation seemingly becomes: “An intentional deception or misrepresentation made by a person with the knowledge that the deception could result in some unauthorized benefit to himself or some other person…” Commonly known as fraud, a crime.But I am not a lawyer.

Unfortunately, E&O (Errors and Omissions - basically malpractice) insurance is not required for real estate licensees in Alabama, so many of them "go naked."

Entry ways, passages, public halls and common areas may not be obstructed inany way, and may not be used for storage, recreation, congregation or play, or inany manner that might endanger any occupant, invitee or licensee of the building.3.

As a licensee I am required to take Continuing Education classes on Fair Housing updates every cycle, so that is my main source of information.

no argument from me as a Mortgage Banker and NMLS registered ( although I let my ORegon license expire as I dont need it anymore .. but still have my CA Brokers license which is good for making CA HML.. spent over 25 years as a licensee MLO and have been lending in CA since the 80s with my CA Brokers license..

Maybe you can take it to a small claims court or report to the regulatory authority for the licensee in the state?

Licensees are held to a different standard when engaging with the public, and making a “killing” on a deal may either alert regulators to charges of failing to disclose market values or private attorneys representing sellers to charges of failing to deal “honestly”.