Arizona real estate law

Question 1

The state agency that regulates real estate, cemetery and memberships camping brokers and sales persons. The department oversees the activities of licensees, investigates complaints, and participates in administrative hearings. It also regulates the sale of subdivisions, and subdivided lands, timeshares, condominiums, membership campground, and cemeteries

Answer 1

Arizona department of real estate (ADRE)

Question 2

Article of Arizona constitution that permits license, active real estate brokers and agents to prepare the documents necessary and a real estate transaction handled by their brokerage, without charging a fee

Answer 2

Article 26 – also known as article XXIV

Question 3

Rules and regulations adopted by the Arizona department of real estate and published in the Arizona administrative code (AAC) in title 4, chapter 28

Answer 3

Commissioner’s rules

Question 4

A 10 member board, appointed by the governor, that advises and gives recommendations to the commissioner of the Arizona department of real estate. Member serve a six-year term

Answer 4

Real estate advisory board

Question 5

A person licensed under the laws of the state transact real estate business on behalf of another (acting as an agent). In Arizona, this person must have three years of experience

Answer 5

Real estate broker – can be a designated broker or an associate broker

Question 6

The person who heads the Arizona department of real estate. Appointed by the governor, has no set term. Prior to appointment, this person must have at least five years of experience in real estate, banking or title/escrow business

Answer 6

Real estate commissioner

Question 7

A person license by the Arizona Department of real estate who is associated with and works on behalf of a designated broker

Answer 7

Real estate sales person

Question 8

Any real estate licensee who is a member of the national Association of realtors (NAR) and they’re affiliated state/local boards. Only members may use the term as it’s a registered trademark of the NAR

Answer 8

Realtor

Question 9

Advisory reports issued by the real estate commissioner to establish and clarify a ADRE policies on statutes and rules

Answer 9

Substantive policy statement (SPS)