Principal vs principle real estate10/31/2023 An Applicant must have no record of civil judgments imposed within the past seven (7) years involving judgments of civil rights laws, real estate license laws, or other laws prohibiting unprofessional conduct rendered by the courts or other lawful authorities.ĥ. An applicant who has a record of criminal conviction(s) within the past seven (7) years involving a crime that reasonably relates to the real estate business or puts clients, customers, or other real estate professionals at risk, must provide, and the association must consider, mitigating factors relating to that criminal history.Įxplanation: Associations have an interest in ensuring that REALTORS® will protect the interests, property, and funds of their clients and that a REALTOR®’s actions will not discredit the REALTOR® organization or the real estate profession. Where question arises as to whether or not applicants are "actively engaged" in the real estate business, they shall be given the opportunity to present evidence related to the actual and intended scope of their business activities.ģ. An Applicant must have a place of business within the state or a state contiguous thereto.Ĥ. In addition, it does not contemplate that applicants shall have no other job or occupation. Being actively engaged in the real estate business, and shall actively seek and service real estate business. It does not contemplate that applicants must devote all or even a majority of their time to the real estate business or derive any particular percentage of their income from such business. ![]() An applicant must be actively engaged in the real estate business and its recognized fields.Įxplanation: Being "actively engaged" in the real estate business means that on a continual and ongoing basis, the licensed or certified applicants is affiliated with a real estate firm and holds themselves out to the public as an individual seeking to service and servicing real estate business. ![]() ![]() The Criteria and explanatory notes have the approval of National Association legal counsel, and were approved by the Board of Directors of the National Association of REALTORS® February 5, 1974, and amended in 1982, 1985, 1987,1990, 1991, 1996, 2001, 2006, 2007, and 2017.Īn association may adopt and may require a REALTOR® applicant to provide satisfactory evidence of the following Membership Qualification Criteria:ġ. An applicant must hold a valid real estate license and must be engaged with a real estate firm located within the state where the association is located or a contiguous state.Įxplanation: Holding "a valid real estate license" means REALTOR® applicants who are principals in a real estate firm must have and maintain a current, valid license or certification to conduct real estate brokerage or appraisal of real property from an appropriate state regulatory agency.Ģ. All membership qualification criteria adopted by an association must be set forth in its bylaws. The term “principal,” as used in the NAR Constitution and Bylaws and in this Membership Qualification Criteria policy includes licensed or certified individuals who are sole proprietors, partners in a partnership, officers or majority shareholders of a corporation, and office managers (including branch office managers) acting on behalf of principals of a real estate firm.Īssociations may elect to adopt all, some, or none of the criteria. The following Membership Qualification Criteria have been developed by the Membership Policy and Board Jurisdiction Committee of the National Association to provide “reasonable and nondiscriminatory written requirements for membership.” These Membership Qualification Criteria are the most rigorous qualifications that an association of REALTORS® may require of REALTOR® applicants who are principals in a real estate firm.
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