(1) Persons with licenses deemed equivalent to licenses held by Washington licensees, as determined by the director, for a fee, commission, or other valuable consideration, or in the expectation, or upon the promise of receiving or collecting a fee, commission, or other valuable consideration, may perform those acts that require a license under this chapter, with respect to commercial real estate, provided that the out-of-state licensee, as approved by the director, does all of the following: (a) Works in cooperation with a Washington real estate designated broker who holds a valid, active managing broker license issued under this chapter; (b) Enters into a written agreement with the Washington firm, through its designated broker, that includes the terms of cooperation, oversight by the Washington designated broker, compensation, and a statement that the approved out-of-state licensee and its agents will agree to adhere to the laws of Washington; (c) Furnishes the Washington designated broker with a copy of the out-of-state approved licensee's current license in good standing from any jurisdiction where the out-of-state approved licensee maintains an active real estate license; (d) Consents to jurisdiction that legal actions arising out of the conduct of the approved out-of-state licensee or its agents may be commenced against the approved licensee in the court of proper jurisdiction of any county in Washington where the cause of action arises or where the plaintiff resides; (e) Includes the name of the Washington broker, managing broker, or firm on all advertising in accordance with RCW. Licensure of town, city, or county employees conducting real estate transactions. Each duplicate license shall be prominently displayed in the office for which it is issued. There is established the real estate commission of the state of Washington, consisting of the director who is the chair of the commission and six commission members who shall act in an advisory capacity to the director. Know the Rules . Welcome to the Agents and Brokers Resources webpage. (7) The director shall charge a fee for the certification of courses of instruction, instructors, and schools. (2) Except under subsection (4) of this section, it is unlawful for any licensed real estate firm to pay any part of the firm's commission from brokerage services or other compensation to a real estate broker or managing broker not licensed to do business for the firm. Supervise the activities of independent contractors only if they work more than 26 weeks in a year. Real estate agents and brokers enjoy a special IRS classification as statutory independent contractors. Distribution of interest from brokers' trust accounts. (1) The purpose of a real estate research center in Washington state is to provide credible research, value-added information, education services, and project-oriented research to real estate licensees, real estate consumers, real estate service providers, institutional customers, public agencies, and communities in Washington state and the Pacific Northwest region. A real estate firm must maintain an adequate amount of funds in the trust fund accounts to facilitate the opening of the trust fund accounts or to prevent the closing of the trust fund accounts. The examination for real estate managing brokers shall be more exacting than that for real estate brokers. Or, if you prefer, you can … ... the role of the insurer's adjuster is to determine the following. The Financial Industry Regulatory Authority (FINRA) is a nongovernmental organization that writes and enforces rules for brokers and broker-dealers. Direct writers dominate auto and homeowners insurance sales, while commercial insurance is more commonly purchased through independent agents or brokers. If the director decides, after an adjudicative hearing, that the evidence supports the accusation by a preponderance of evidence, the director may impose sanctions authorized under RCW. (5) All licensees shall keep separate and apart and physically segregated from the licensees' own funds, all funds or moneys including advance fees of clients that are being held by the licensees pending the closing of a real estate sale or transaction, or that have been collected for the clients and are being held for disbursement for or to the clients. The license of a person whose license renewal fee is not received within one year from the date of expiration is canceled. Whenever the director believes from evidence satisfactory to the director that a person has violated any of the provisions of this chapter, or any order, license, decision, demand or requirement, or any part or provision thereof, the director may bring an action, in the superior court in the county wherein the person resides, to enjoin that person from continuing the violation or engaging therein or doing any act or acts in furtherance thereof. TREC is ramping up enforcement of this rule. Support brokers are available 24 hours a day, seven days a week. Independent Broker Dealer and Registered Investment Advisor. The director may publish a copy of this chapter and information relative to the enforcement of this chapter and may mail a copy of this chapter and the information to each licensed broker, managing broker, and firm. (6) "Commercial real estate" means any parcel of real estate in this state other than real estate containing one to four residential units. (8)(a) If a real estate broker receives or maintains earnest money or client funds for deposit, the real estate firm shall maintain a pooled interest-bearing trust account for deposit of client funds, with the exception of property management trust accounts. Provide personalized advice – all enterprises have specific business needs, especially small-size businesses with lower export/import volumes. (5) A broker who supervises or exercises right of control over other brokers in the performance of real estate brokerage services must be licensed as a managing broker. Unlike insurance agents, brokers work for you rather than the insurance companies. (3) A real estate licensee or person who has a controlling interest in a real estate business shall not prevent or deter a title insurance company, title insurance agent, or their employees or representatives from delivering to a real estate licensee or its employees, independent contractors, and clients printed promotional material concerning only title insurance services as long as: (a) The material is business appropriate and is not misleading or false; (b) The material does not malign the real estate licensee, its employees, independent contractors, or affiliates; (c) The delivery of the materials is limited to those areas of the real estate licensee's physical office reserved for unrestricted public access; and. 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