This page addresses the most common topics that are raised by licensees and consumers. Please read each topic below to find answers to your questions before reaching out to the General Counsel’s office for additional information.
Note on Legal Services
We cannot provide licensees or consumers legal advice concerning a private business matter or draft or interpret any legal contract, agreement, disclosure, release, form, or other documents. See Kentucky Supreme Court Rule 3.13(4.2,4.3). The Kentucky Bar Association may be able to help you find an attorney. Alternatively, Kentucky Realtors offers additional legal resources on their website.
Kentucky Bar Association Lawyer Locator
Kentucky Realtors Legal Help
License Statutes and Regulations
The following links will provide you with the statutes and regulations for the Real Estate Authority professions:
KRS Chapter 324
324.020 Requirement of licensing -- Application of chapter to owner or builder-developer -- Prohibition against fee splitting -- Exceptions -- Supervision of sales associate -- Authority to seek injunctive relief.
324.030 Exceptions to KRS 324.020.
324.040 Application for license as broker or sales associate.
324.046 Requirements for initial licensure.
324.080 Form of license certificate -- Delivery.
324.085 Continuing education requirements -- Post-licensure education requirements -- Qualifications of instructors -- Administrative regulations.
324.090 Expiration of license -- Fine for failure to renew on time -- Expired status.
324.111 Escrow account of broker -- Interest -- Audit -- Contract deposit release -- Separate property management accounts.
324.112 Broker to manage certain branch offices -- Qualified sales associate may manage certain branch offices -- Registration of branch offices -- Filing of licenses -- Temporary affiliation of one principal broker with another.
324.115 Brokers required to maintain definite place of business -- Exception for reciprocity agreements.
324.117 Advertising -- Affiliations to be listed -- Administrative regulations of commission.
324.121 Designation of licensee as exclusive agent -- Effect of designation -- Availability of dual agency.324.141 Reciprocal licensing between states -- Consent to service of process by nonresident applicant.
324.142 Promotion of sales in Kentucky of property located outside state.
324.150 Investigation of licensee -- Disciplinary action against licensee --Investigative powers of commission -- Emergency hearings.
324.151 Complaints -- Answers.
324.160 Sanctions -- Grounds for sanctions.
324.162 Agent's duty to disclose.
324.165 Prohibited business practices -- Penalties.
324.170 Hearing to precede any disciplinary action -- Notice -- Conduct of hearing.
324.200 Hearing -- Denial of license or any other disciplinary action -- Appeal -- Stay of judgment pending appeal.
324.220 No other license to be issued for five years after revocation.
324.230 Revocation or suspension of principal broker's license renders inactive the license of person associated with broker.
324.235 Definitions for KRS 324.235 to 324.238.
324.236 Engaging in commercial real estate brokerage by out-of-state principal broker and out-of-state licensee.
324.237 Notice of affiliation with Kentucky cooperating broker required.
324.238 Compliance with KRS 324.160(4) and 324.235 to 324.238 -- Sanctions and penalties.
324.281 Kentucky Real Estate Commission -- Members -- Terms -- Vacancies -- Duties -- Mandatory continuing education -- Compensation of members.
324.2811 Automatic removal of member from commission.
324.2812 Limitation of commission's jurisdiction.
324.282 Election of chairperson -- Rules and regulations.
324.284 Employees -- Office -- Equipment and supplies.
324.285 Seal -- Records.
324.286 Disposition of fees -- Payment of expenses.
324.288 Affiliation fee.
324.310 Delivery of sales associate's license to commission when association terminated -- Placing license in inactive status with commission -- Reactivating license.
324.312 Commission's right to return of associate's license -- Sanction for failure to return.
324.330 Notice of change of location, firm name, surname, or associate -- New license.
324.360 Form for seller's disclosure of conditions.
324.395 Errors and omissions insurance mandatory for all active status licensees -- Extended reporting period coverage insurance for inactive licensees.
324.400 Real estate education, research, and recovery fund -- Fees.
324.410 Purposes of fund.
324.420 Collection by aggrieved party from recovery fund.
324.425 Closing existing business of deceased or incapacitated principal broker.
324.980 Persons to whom KRS Chapter 324 does not apply.
The General Counsel’s office understands the urgency and importance of each case. We are working diligently to resolve all issues in a timely manner and ask for patience during this process as it takes time to thoroughly review each case. Because each case is different in its complexity, we cannot provide an estimated time to resolution or discuss specifics until a final determination is made.
The case process has several steps:
(1) The process begins with the filing of a complaint. If additional information is needed, the party that filed the complaint will be contacted for additional information. However, if the complaining party does not allege sufficient facts to establish a possible license law violation, then the case will be dismissed.
Sworn Statement of Complaint
(2) The General Counsel’s office will then conduct an investigation and all parties will be contacted to provide information to the investigator. Once the investigation report is complete and evaluated by General Counsel attorneys, the relevant Board/Commission will review the case to determine whether to dismiss the case or order a hearing.
(3) If the case proceeds to a hearing, the General Counsel’s office will file a notice of hearing and charges with the Public Protection Cabinet’s Office of Administrative Hearings.
(4) At this point, the hearing officer takes over the process until the hearing is complete and a recommendation is made to the Board/Commission.
Additional Information on Filing a Complaint
Criminal Background Reports and License Applications
You must consider your criminal history and use your judgment to decide whether the benefits of receiving a license outweigh the risk of being denied a license because of your criminal background.
Holding More Than One License
Licensees should be fair in all business transactions. No one that has a license issued by a Real Estate Authority Board or Commission may use that license and provide another service in the same transaction without disclosing this potential conflict of interest to all relevant parties connected to the transaction.
Notice of Additional Questions or Concerns
The General Counsel’s office may be able to answer additional questions from the public that have not been addressed on this page. However, the General Counsel’s office is limited to answering general questions only. The General Counsel’s office is prohibited from providing specific legal advice as described earlier on this page. By emailing the General Counsel’s office, you understand and agree to the following conditions:
1) A response from the General Counsel’s office does not form an attorney/client relationship;
2) Any email sent to the General Counsel’s office via this link is not confidential and may be shared with the Commission or be accessed by members of the public;
3) The General Counsel’s office will respond to emails in the order in which they are received and as resources allow;
4) The General Counsel’s office offers this service in an effort to assist the public under these limited terms and may decline to answer any email that violates any of the conditions described on this page.
By emailing your question to the following link, you understand and agree to the limitations described on this page. You may direct questions to firstname.lastname@example.org
KREC Commission Meeting Schedule 2022
January 20, 2022
February 17, 2022
March 17, 2022
April 21, 2022
May 19, 2022
June 16, 2022
July 21, 2022
August 18, 2022
September 15, 2022
October 20, 2022
November 17, 2022
December 15, 2022