Real Estate Agency San Jose
California Real Estate Attorneys
If you have ever needed the help of a Real Estate Agency San Jose you may be wondering what there is to know about one. The word real estate refers to any type of investment property and it is not an industry that is limited to any geographical location. In fact, many people are now making their money investing in the real estate market. However, before you sign up for an agency you will need to know that there are a few things that you should know. First, you will need to know what an estate agency is and what you are getting into. Then, you will need to know where to find the right agency so that you can invest properly and you will be able to do it legally.
First, you will need to know what a real estate agency is if you are looking in the United States. There are several states in the United States where there are only licensed brokers and agents that will be allowed to do business in those states. These states include Arizona, Connecticut, Florida, Hawaii, Kansas, Montana, New Hampshire, Oregon, Pennsylvania, and Washington. If you are looking at investing in Real Estate in Canada then you will not be able to get licensed in those provinces. Also, if you are a United States citizen then you will need to get a license before you can become a real estate broker in the United States.
Now, once you know what an estate agency is you will need to determine which states and provinces you will be doing business in. There are basically three states where you can do business; California, Colorado and New York. Each state has different duties and requirements for agents and brokers. If you are planning on being licensed as a real estate broker in California then you will be required to fulfill a lot of the same duties as a broker in New York.
The most important duty that a real estate agency is required by law to perform is the duty of disclosure. This means that they have a responsibility to the public to tell the truth about any matter that they receive. For example, if the real estate agency is involved in a transaction with a prospective buyer, and they fail to disclose material information to the buyer then they may be held liable. In addition to failing to disclose information, the agent is also required by law to withhold material facts or omit essential information from a client. The failure to withhold information or facts is called an omission and can be held against the agent.
When a real estate agency fails to meet their disclosure obligations then the Consumer Commission in California can fine the agency up to a penalty of $1000. However, the Consumer Commission has the authority to increase this penalty if it finds the agent had a deliberate attempt to conceal material facts from the client. The Residential Real Estate Division of the Department of Business and Professional Regulations can impose additional penalties for similar violations. In addition to failing to properly disclose certain transactions the Real Estate Division of the Department of California can impose fines on the agent for withholding information in connection with a California Real Estate License. For example, the Real Estate Division of the State of California may find an agent guilty of withholding information in connection with a Real Estate Broker license and impose a penalty for such a crime.
The failure to properly disclose a specific transaction under California law can result in the agent's license being suspended or revoked. Therefore, it is very important for real estate agents to understand the importance of properly disclosing certain transactions. A well-informed real estate agent will be able to accurately advise his or her clients of any transaction that requires a disclosure of material facts, even if the transaction is one that the California Consumer Code does not require a disclosure of material facts. For example, under the Real Estate Franchise Disclosure Act the real estate seller must provide the disclosure of certain transaction facts to the prospective buyer.
It is the duty of the agent to advise the potential client of the transaction that requires a disclosure of material facts. If the agent does not properly inform the client of the transaction that requires a disclosure of material facts the Real Estate Division of the State of California can hold the agent personally responsible for "failing to make a disclosure of material information required by the law". If the agent fails to disclose a transaction that requires a disclosure of material information, the California Consumer Code makes it a penalty crime "for refusing to make a disclosure of information required by the law". Under the California Real Estate Franchise Disclosure Act, if a disclosure of a material fact is required by the law then the agent has to give the required disclosure. Failure to give the required notice to the customer can result in the suspension or revocation of the agent's license.
There are strict limits on the amount of money that can be charged to a seller or buyer for a Real Estate transaction in California. The Real Estate Agency has the responsibility to investigate every possible charge of Unfair Practice. The California Real Estate Agency has the responsibility to cease any unjustified use of its resources in the course of Real Estate transactions. If a license is suspended under the Real Estate Franchise Disclosure Act, the agency has the responsibility to reinstate the license within sixty days. The California Real Estate Agency also has the responsibility of investigating and determining if an agent is in default of their ethical obligations.