For the Iowa state portion, how should a candidate analyze an unlicensed support person is asked to explain a purchase agreement to a customer?
Correct Answer
A) Discussing or explaining a contract, listing, agreement, or real estate document with anyone outside the firm is barred
Iowa Administrative Code 193E-7.13 bars unlicensed support personnel from explaining real estate documents outside the firm. Source basis: Iowa Administrative Code 193E-7.13 through 7.15: support personnel supervision, written policy, permitted and barred activities, limited information sharing, and purchase-agreement presentation; checked 2026-04-30.
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Related Topics & Key Terms
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Key Terms:
Related Concepts
Antitrust violations in real estate occur when competing brokerages or agents engage in practices that restrain trade, reduce competition, or harm consumers through collusion. These violations are governed by the Sherman Antitrust Act and can result in severe penalties.
Broker supervision is the legal obligation of a designated or managing broker to oversee and be accountable for the real estate activities of all salespersons and associate brokers operating under their license.
Commingling is the illegal act of mixing client funds with a broker's personal or business operating funds, while conversion is the unauthorized use of client funds for the broker's own benefit. Both are serious violations that can result in license revocation.
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