To retain your license to practice in real estate in California, you must remain DRE-compliant. If you’re found to be non-compliant you could be subject to disciplinary action — and while that can mean a lot of less-serious consequences, at the end of that road lies loss of license. Staying compliant is vital, and can help you avoid the lost time and expenses of DRE audits and disciplinary hearings.
However, DRE regulations can be ambiguous and opaque. Mary E. Work works with clients to ensure that they are and remain compliant in areas including hiring and employment practices, complete and accurate financial records, and adhering to proper advertising rules. Additionally, complex regulations surround management of escrow accounts and earnest money, and the preparation and delivery of real estate transfer disclosure statements. The onus is also on real estate agents to maintain proper licenses for each business location — something that’s easy to overlook when you’re working out of multiple offices, or managing a business that does.
While some of these are core activities for realtors, others are closer to what you’d expect an attorney to handle, which is one more reason why we recommend you have a qualified, experienced attorney ensure that you’re compliant.