Which of the following disciplinary actions is the Delaware Real Estate Commission (DREC) authorized to impose on a licensee?
Correct Answer
B) Suspend, revoke, or impose fines on a licensee's license
The Delaware Real Estate Commission (DREC) is authorized to impose disciplinary actions including suspension, revocation, and monetary fines against licensees who violate Delaware real estate law or regulations. The DREC cannot set mandatory commission rates (which would violate antitrust law), impose criminal imprisonment (a function of the courts), or unilaterally void private contracts between parties.
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Related Topics & Key Terms
Related Topics:
Key Terms:
Related Concepts
An agency relationship where the agent agrees to act on behalf of the principal without receiving compensation.
An agency relationship created by the conduct or actions of the parties rather than by a written or oral agreement.
The legal obligation to reveal information that could affect a party's decision to enter into or the terms of a real estate transaction.
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