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Chapter 193E Real Estate Brokers and Salespersons Index (PDF)
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Rule Changes --193E Real Estate Brokers and Salespersons

Rule Changes 2002


ADMINISTRATIVE RULE CHANGES--CHAPTER 193-E

R02-01

View the filed Notice of Intended Action

View the filed Adopted

Summary of Rule Changes:

Rescinded chapters 1, 2, 3, 4, and 6 contain rules that are identical or similar to rules that were sorted, organized, clarified and included in proposed new chapters.

Rescinded chapters 5, 7, and 8 are chapters that contain rules that are identical or similar to rules contained in rules for the Professional Licensing and Regulation Division.

1. Rescind Chapter 1 “Business Conduct” and replace with new Chapter 1 “Administration.” Proposed Chapter 1 contains clarified and organized rules that are identical or similar to related rules in rescinded chapters 2, 4, 7, and 8 covering commission administration and referencing topics covered by division rules to the corresponding division chapter.

2. Rescind Chapter 2 “Administrative Procedure” and replace with new Chapter 2 “Definitions.” Proposed Chapter 2 contains definitions that are identical or similar to definitions in rescinded chapters 1 and 2. Changes were for clarification.

3. Rescind Chapter 3 “Prelicense and Continuing Education” and replace with new Chapter 3 “Broker License.” Proposed Chapter 3 contains rules that organize and outline the requirements for obtaining a broker license. Contains rules that are identical or similar to related rules in rescinded chapters 2 and 3. Changes were for clarification.

4. Rescind Chapter 4 “Investigations and Disciplinary Procedures” and replace with new Chapter 4 “Salesperson License.” Proposed Chapter 4 contains rules that organize and outline the requirements for obtaining a salesperson license. Contains rules that are identical or similar to related rules in rescinded chapters 2 and 3. Changes were for clarification.

5. Rescind Chapter 5 “Public Records and Fair Information Practices” and replace with new Chapter 5 “Licensees of Other Jurisdictions and Reciprocity.” Proposed Chapter 5 contains rules that organize and outline the requirements for non-Iowa residents obtaining a real estate license. Contains rules that are identical or similar to related rules in rescinded chapters 2 and 3. Changes were for clarification.

6. Rescind Chapter 6 “Requirements for Mandatory Errors and Omissions Insurance” and replace with new Chapter 6 “Terminating and Transfer.” Proposed Chapter 6 is a new chapter that clarifies established procedures to follow when terminating employment, immediate transfer of license, and authorization to request a license issued.

7. Rescind Chapter 7 “Declaratory Orders”; and replace with new Chapter 7 “Offices and Management.”

Proposed Chapter 7 contains rules that organize rules relating to various licensing, office, and management requirements. Contains rules identical or similar to related rules in rescinded chapters 1 and 2. Changes were for clarification and the outdated time frame requirement was removed from 7.7(543B).

8. Rescind Chapter 8 “Waiver and Variances From Rules” and replace with new Chapter 8 “Closing Real Estate Business.” Proposed Chapter 8 is a new chapter that establishes procedures for closing a real estate business.

9. Adopt new Chapter 9 “Fees.” Proposed Chapter 9 contains rules that organize rules relating to various license fees. Contains rules identical or similar to related rules in rescinded chapter 2. Changes were for clarification and to reflect license fee increase of $50 for a three year broker, salesperson, and firm license, $20 for the additional license, branch license, and trade name license. A new $25 license certification fee added.

10. Adopt new Chapter 10 “Advertising. Proposed Chapter 10 contains rules that organize rules relating to advertising requirements. Contains rules identical or similar to related rules in rescinded chapter 1. Changes were for clarification.

11. Adopt new Chapter 11 “Brokerage Agreements and Listings.” Proposed Chapter 11 contains rules that organize rules relating to various listings and brokerage agreements. Contains rules identical or similar to related rules in rescinded chapter 1. Changes were for clarification.

12. Adopt new Chapter 12 “Disclosure of Relationships.” Proposed Chapter 12 contains rules that organize rules relating to agency and disclosure requirements. Contains rules identical or similar to related rules in rescinded chapter 1. Changes were for clarification.

13. Adopt new Chapter 13 “Trust Accounts and Closing.” Proposed Chapter 13 contains rules that organize rules relating to trust account and closing requirements. Contains rules identical or similar to related rules in rescinded chapter 1. Changes were for clarification.

14. Adopt new Chapter 14 “Seller Property Condition Disclosure.” Proposed Chapter 14 contains rules that organize rules relating to the seller property disclosure requirements. Contains rules identical or similar to related rules in rescinded chapter 1. Changes were for clarification.

15. Adopt new Chapter 15 “Property Management.” Proposed Chapter 15 contains rules that organize rules relating to property management. Contains rules identical or similar to related rules in rescinded chapter 1. Changes were for clarification.

16. Adopt new Chapter 16 “Prelicense Education and Continuing Education.” Proposed Chapter 16 contains rules that organize rules relating to prelicense and continuing education requirements. Contains rules identical or similar to related rules in rescinded chapter 3. Changes were for clarification.

17. Adopt new Chapter 17 “School, Course, and Instructor Approvals.” Proposed Chapter 17 contains rules that organize rules relating to real estate school, course, and instructor approval requirements and application. Contains rules identical or similar to related rules in rescinded chapter 3. Changes were for clarification.

18. Adopt new Chapter 18 “Investigations and Disciplinary Procedures.” Proposed Chapter 18 contains investigation and disciplinary procedure rules specific to real estate commission to supplement division chapter 7. Contains rules identical or similar to related rules in rescinded chapter 4. Changes were for clarification and to comply with new Iowa Code section 543B.48.

19. Adopt new Chapter 19 “Requirements for Mandatory Errors and Omissions Insurance.” Proposed Chapter 19 contains rules that clarify the requirements for the mandatory errors and omissions insurance requirement. Changes were made to for clarification and to comply with legislative changes to Iowa Code section 543B.47. Contains rules identical or similar to related rules in rescinded chapter 6.

20. Adopt new Chapter 20 “Time-Share Filing.” Proposed Chapter 20 contains the identical timeshare filing rule in rescinded chapter 2.

Reason for the RuleChanges:

Executive Order 8 and legislative changes to Iowa Code chapter 543B.

View the filed Notice of Intended Action

View the filed Adopted

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