Many different mistakes can put your California real estate license in jeopardy, but it is possible to protect your career after a disciplinary issue. One way to keep your business going is to apply for a restricted license, but real estate brokers need to know the limitations of these licenses.
What does license restriction mean for realtors?
If the DRE revokes your existing license, you may be able to obtain a restricted license. These licenses generally provide realtors the same rights as an unrestricted real estate license, allowing you the chance to rebuild your career after disciplinary action.
Because a real estate license is your property under the law, the California Department of Real Estate (DRE) must give you the opportunity to defend yourself before they suspend or revoke that license. However, restricted licenses are not legally your property, and your use of a restricted license is considered probationary. This probationary period can last for multiple years, and during that time the DRE can suspend your license without due process.
The DRE may also require you to take additional actions after receiving your restricted real estate license. These can include taking a continuing education course.
You can have the restriction removed from your license.
While restrictions on your license can put your career in a precarious position, it is possible to petition to remove the restriction on your license. Because the DRE will not automatically remove restrictions from your license, it is important to be proactive about filing this petition.
If a disciplinary action has impacted your career, it can be important to seek legal guidance to help you through the process of restoring your license and your reputation.