A real estate salesperson in Union County is found guilty of redlining by refusing to show properties in certain neighborhoods based on the racial composition of those neighborhoods. Which of the following penalties can the NJREC impose?
Correct Answer
C) Suspension or revocation of the salesperson's license and monetary penalties
Under N.J.S.A. 45:15-17, the NJREC has authority to suspend or revoke a real estate license and to impose monetary penalties when a licensee engages in conduct that violates applicable law, including fair housing laws. Redlining is unlawful under both the NJ LAD and federal law, and it constitutes grounds for serious disciplinary action, up to and including license revocation.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Florida brokers are required to maintain transaction records and escrow records for a minimum of five years.
A tie-in arrangement is an illegal antitrust practice in which a seller conditions the purchase of one product or service on the buyer's agreement to purchase a separate product or service.
A trust account, also called an escrow account, is a separate bank account maintained by a broker to hold funds belonging to others, such as earnest money deposits, security deposits, or other client funds.
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