Under HRS Chapter 467, the Hawaii Real Estate Commission has broad authority to regulate real estate licensees. Which of the following is NOT a power expressly granted to the HREC under HRS Chapter 467?
Correct Answer
C) Setting the maximum commission rate that brokers may charge clients for real estate services
The HREC does NOT have the power to set maximum commission rates. Commission rates in Hawaii, as in all U.S. states, are negotiable between the broker and client and are not set or capped by the Commission. Setting commission rates would violate federal antitrust law (Sherman Act). The HREC's authority is limited to licensing, discipline, rulemaking, and consumer protection — not price-setting.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Florida real estate licenses must be renewed biennially, and sales associates have specific post-license education requirements for their first renewal.
License requirements are the mandatory qualifications—including pre-licensing education, examination, and background checks—that a person must satisfy before legally practicing real estate. These requirements are established and enforced by each state's real estate commission.
Market allocation is an illegal antitrust practice in which competing real estate brokerages agree to divide markets among themselves by geographic area, property type, or price range, thereby eliminating competition.
More Practice Of Real Estate Questions
In Wyoming real estate practice, an associate broker or salesperson is not associated with a responsible broker at renewal. What should the licensee remember?
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A Wyoming licensee is reviewing an out-of-state salesperson applicant prepares for testing. What is the best answer?
In Wyoming real estate practice, a salesperson applicant age is reviewed. What should the licensee remember?
A responsible broker in Wyoming asks about a nonresident applicant provides home-state evidence. Which answer follows Wyoming law?
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- → Which Wyoming rule applies when a licensee does not timely submit the complete renewal application, proof of CE, and renewal fees?
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- → A Wyoming licensee is reviewing a first-time salesperson applicant asks which prelicense courses are required. What is the best answer?
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