Duties and Power of KREC

Question 1

General Powers and Duties

Answer 1

• Receive applications and issue to brokers and salespersons
• Carry into effect the provisions of BRRETA
• Adopt rules and regulations consistent with BRRETA
• Publish names and licensees
• Publish disciplinary actions
• Conduct real estate courses
• Assist in financial aid for real estate institutes and foundations
• Process recovery from the real estate recovery revolving fund

Question 2

Membership

Answer 2

• 5 members appointed by the governor
• At least 3 must have been real estate brokers for 5 years
• At least 1 can never have been a real estate broker

Question 3

Examination of Records

Answer 3

• KREC can examine all records relating to a broker’s real estate business
• Records must be kept according to KREC’s directions

Question 4

Investigations

Answer 4

• KREC may make all necessary investigations
• Licensees must provide evidence as to violations of BRRETA
• Order can be enforced through district courts