How are members of the Indiana real estate Commission selected?
There are 12 Members on the Indiana Real Estate Commission (IREC), all are appointed by the Governor to 4-year terms. (They are considered Political Appointees) The Governor may appoint and/or reappoint as needed. Commission members must be residents of the State and may not hold any elected State or Federal office.
What is the purpose of the Indiana real estate Commission?
The Indiana Real Estate Commission’s main objective is to protect consumers from being taken advantage of by people in the real estate business. It’s illegal to practice real estate in Indiana without a license.
How many times can you take the real estate exam in Indiana?
Yes. You can take your real estate broker exam as many times as necessary to pass as long as you retake it within one year of your course completion certificate date.
How many questions are on the Indiana real estate exam?
The national part of the Indiana Real Estate Sales Agent exam is comprised of 80 questions. A passing grade is 75%. That means that in order to pass the test, an examinee must answer 60 out of the 80 questions correctly. The state specific part of the Indiana Real Estate Sales Agent Exam is comprised of 50 questions.
Where does the Indiana Real Estate commission maintain all of its official records?
The brokerage is obligated to produce its records upon request by the commission. The brokerage must convey copies of all its records to the offices of the Indiana Real Estate Commission within five business days.
How does the Indiana Real Estate commission protect consumers quizlet?
List five ways the Real Estate Commission protects consumers. Enforces rules and punishes offenders. Establishes and enforces requirements for licenses. Reviews records of all licensees.
What is the position regarding the offering of premiums prizes or merchandise to list a property?
What is the position regarding the offering of premiums, prizes, or merchandise to list a property? It is unethical. If an agent who represents the seller, gives advice to a buyer regarding an offering price, what type of agency would it create?
Which of the following is a duty of an Indiana broker when her agency relationship with a client terminates?
What is a duty of an Indiana Broker when her agency relationship with a client terminates? Provide a full accounting of all funds received in connection with the relationship.
What happens if managing broker dies?
Each broker associated with the deceased or terminated managing broker becomes a managing broker until the broker chooses to conduct business as a broker in association with another managing broker. For example, if Managing Broker Joe dies, Brokers Tom, Bob, and Mary all become managing brokers.
How much does a realtor make in Indiana?
The average salary for a real estate agent in Indiana is around $48,562 per year.
Is the Indiana real estate exam hard?
The real estate exam is a knowledge test. It does not test applicants on information that they will intuitively know. In other words, you must study to pass this exam. … With proper preparation, the real estate exam is not that hard.
Can you use a calculator on the Indiana real estate exam?
An online calculator will be provided. You can also bring your own as long as it is silent and non-programmable with no alpha keys.
What state has the hardest real estate exam?
Colorado is regarded as the hardest state since agents need to cover 160 hours of education, pass two tests, pass a background check, and be fingerprinted. In contrast, most other states require less than 100 education hours, with the majority falling with the 40-hour requirement.
How many times can you fail the Indiana real estate exam?
If you fail your second attempt, there’s no need to panic. You can take the exam up to 3 times within a 12-month period.