Questions and Answers
How much do commissioners get paid per day?
$50 a day
How many days does a licensee have to appeal a decision of the real estate commission?
30 days
What can the real estate commission impose for punishment on licensees?
The NHREC can suspend/revoke license; require education; $2,000 per violation
How many terms can a New Hampshire Real Estate Commissioner serve?
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How are members of the New Hampshire Real Estate Commission selected?
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In the state of New Hampshire, the real estate license law is administered by the?
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The New Hampshire Real Estate Commission has the power to revoke a salesperson's license if the salesperson:
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How many days does a licensee have to respond to a complaint?
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The New Hampshire Real Estate Commission consists of how many members total?
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The New Hampshire Real Estate Commission has the authority to:
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A licensee would not have his license suspended for correctly depositing earnest money into the firm's interest-bearing escrow account.
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How long must a commissioner be a resident of the state of New Hampshire?
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When a principal broker has his or her license suspended for two years, what effect does this have on the associate brokers and salespersons affiliated with the principal broker?
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When investigating a complaint, how many days notice does the broker receive before a hearing?
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A licensee concealed pertinent information about the condition of a property for which he was the agent of the seller. Which of the following penalties might be imposed by the New Hampshire Real Estate Commission?
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What branch of the government does the New Hampshire Real Estate Commission report to?
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The action of the New Hampshire Real Estate Commission stated in an order may be appealed where?
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The New Hampshire Real Estate Commission can undertake investigations of licensees based on circumstances, except:
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In New Hampshire, agreeing with a seller to accept a listing for more than the broker's usual commission rate is legal.
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Study Notes
Commission and Payment
- Commissioners receive $50 per day for their service.
Appeals and Complaints
- Licensees have 30 days to appeal decisions by the New Hampshire Real Estate Commission (NHREC) to the Superior Court.
- A licensee must respond to a written complaint within 30 days using Form 11-A.
Punishments and Violations
- The NHREC can suspend or revoke licenses, mandate education, and impose fines of $2,000 for each violation.
- Specific prohibited actions include commingling funds, such as depositing buyers' down payments into personal accounts.
Commission Structure
- The NH Real Estate Commission is composed of 5 members: two brokers, one salesperson, one lawyer, and one public member.
- Members must be residents of New Hampshire for at least 6 years prior to serving.
- The governor appoints commission members, subject to approval by the Executive Council.
License Management
- If a principal broker's license is suspended for two years, affiliated salespersons and brokers must return their licenses to the NHREC, rendering them inactive.
- Brokers receive 14 days' notice before a hearing related to a complaint.
Investigation Authority
- The NHREC has the authority to create and enforce rules that real estate licensees must abide by.
- Investigations of licensees can occur based on customer complaints, commission member motions, or client grievances but not through random selection.
Licensee Obligations
- A licensee concealing essential property information may face stern penalties, including suspension or revocation of their license and fines.
Legalities in Real Estate
- Accepting a listing for a commission rate higher than usual is legal and not grounds for license revocation.
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Description
Test your knowledge with these flashcards focused on the New Hampshire Real Estate Brokers Exam. Each card covers important aspects such as commission pay, appeal timelines, and potential punishments for licensees. Perfect for aspiring real estate agents in New Hampshire.
