Kansas Real Estate Salesperson Exam — All Questions
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Which agency licenses and regulates real estate salespersons and brokers in Kansas?
- a.The Kansas Association of Realtors
- b.The Kansas Department of Revenue
- c.The Kansas Real Estate Commission✓
- d.The Kansas Corporation Commission
Real estate licensing in Kansas is administered by the Kansas Real Estate Commission (KREC) under the Kansas real estate license law. The Commission issues, renews, and disciplines licenses and enforces the license law and the Brokerage Relationships in Real Estate Transactions Act. A trade association such as the Kansas Association of Realtors is a private group with no licensing authority.
The Kansas Real Estate Recovery Revolving Fund exists primarily to:
- a.Reimburse a consumer for an actual loss from certain fraudulent acts of a licensee when a court judgment cannot be collected✓
- b.Guarantee the resale value of listed properties
- c.Provide grants to real estate schools
- d.Pay the Commission's staff salaries
The Kansas Real Estate Recovery Revolving Fund (K.S.A. 58-3066 et seq.) may reimburse a member of the public who obtains a final judgment against a licensee for an actual loss caused by fraud, misrepresentation, deceit, or conversion of funds in a real estate transaction and who cannot otherwise collect, subject to statutory limits. When the fund pays a claim in satisfaction of a judgment, the licensee's license is revoked and is not reinstated until the fund is repaid. It is not an insurance, guaranty, or grant program.
In Kansas, a salesperson may perform licensed real estate activity only when:
- a.Affiliated with and supervised by a licensed supervising broker✓
- b.Working independently once the license is issued
- c.Individually approved by KREC for each sale
- d.Registered with the local register of deeds
A Kansas salesperson's license is valid only while the salesperson is affiliated with and supervised by a licensed broker. All licensed activity is conducted for the broker, who is responsible for supervision and trust funds. A salesperson may not be paid a commission directly by a consumer; compensation is paid through the supervising broker.