The West Virginia Real Estate Commission has broad authority to regulate real estate licensees in the state. Which of the following is NOT an action the WVREC is authorized to take under the West Virginia Real Estate License Act?
Correct Answer
C) Award compensatory damages directly to a consumer harmed by a licensee's misconduct
The WVREC is an administrative regulatory body with authority to investigate, hold hearings, and impose administrative sanctions. However, it does NOT have the authority to award compensatory damages to consumers. A consumer seeking monetary damages must pursue a civil action in court. The Commission's role is regulatory, not adjudicatory in the civil damages sense.
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Related Topics & Key Terms
Key Terms:
Related Concepts
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.
Advertising regulations govern how real estate licensees may market properties and services, requiring truthful, non-deceptive advertising that includes proper identification of the brokerage.
More Practice Of Real Estate Questions
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