The California Department of Real Estate brought 52 disciplinary actions during June of this year, 2020. Other months saw similar figures. Failing to understand the rules and abide by them could cost you your real estate license.
These are some of the things that could put your license at risk:
- Poor bookkeeping: When someone hands you over money, they place trust in you. Repay their faith by promptly placing their funds in the correct place. Accurate record-keeping avoids suspicion of wrongdoing.
- Mortgage fraud: If you overvalue a property to help a client take out a mortgage worth more than the real house value, you are committing fraud. It is a serious charge.
- A criminal record: You must disclose any convictions when you apply for a license. They will not necessarily prevent you from getting a permit to practice; however, failure to disclose could see your license revoked if discovered. You could also lose it if you pick up a conviction after you have the license.
- Misrepresentation: Yes, your job is to sell, but do not get carried away with descriptions or promises. Someone could file a complaint if you do go over the top.
- Omission: Forgetting to mention problems with a property, whether on purpose or through forgetfulness, could land you in trouble.
- Errors: Like any profession, there are standards of competence you need to meet. Repeated mistakes may lead to the decision you are not worthy of the profession.
- Failure to cooperate with an investigation: If the Department of Real Estate needs to ask you questions, they will not view it favorably if you hinder their inquiries.
If you need to defend your California real estate agent license, remember what is at stake. Depending upon the charges you face, you could lose your job or even face criminal charges. Seek experienced legal help to protect your future.