About the KREC

Real Estate Licensing Laws in Kentucky

THE COMMISSION: The Commissioners 2008 Commission Meeting Dates Agenda for Meeting March 20, 2008 9:00 a.m. PROFILE: The KREC Mission History of the Commission KREC Office Location Map and Directions Photo Gallery CONTACT the KREC STAFF: E-mail Education, Licensing, Legal Questions and Address Changes to an Appropriate Commission Staff Member Commission Staff Telephone Extension Numbers

SEARCH and/or PRINT THE CURRENT LAW MANUAL: Posted:January 22, 2007 The statutes did not change since the last edition of the law manual; however, new regulations became effective on October 6, 2006. As part of the new regulations, a new Seller’s Disclosure of Property Condition Form and new Agency Disclosure Forms are mandated for use by all licensees beginning on January 1, 2007. Cover: Licensing Laws in Kentucky 2007 Commissioners Disclaimer Table of Contents Changes to the Yellow Law Manual [2006 Version] General Information Kentucky Revised Statutes [KRS 324 - Revised Sept. 2007] Kentucky Administrative Regulations [201 KAR 11 - Revised Sept. 2007] Index NATIONAL and STATE INFORMATION CONTACTS: Helpful Phone Numbers and Contacts

License Information
LICENSE APPLICANT INFORMATION Sales Associate's License [Requirements] Broker's License [Requirements] Criminal Background Check Information  4/21/2008 New Affidavit Process” Available PLEASE READ ALL INSTRUCTIONS CAREFULLY!! Fee Schedule, [license renewal, transfer of licenses, directory listing, and related issues] Frequently Asked License Renewal Questions RECIPROCAL LICENSING INFORMATION Reciprocal Information & Application process for Kentucky licensing by out-of-state licensee.  4/22/2008 Reciprocal Licensing lists the states with which Kentucky has reciprocal agreements./	ERRORS & OMISSIONS INSURANCE Information regarding 2008/2009 Group Errors and Omissions Insurance (Williams Underwriting Group) Certificate of Coverage for Private Carrier E & O Kentucky E & O City/County Rate Charts Kentucky E & O Rate History Kentucky E & O Rate Compared with Other States LICENSE EXAMINATION INFORMATION Candidate Testing Information PROMISSOR General Exam Content State Law Exam Content Outline
Education Information
Continuing Education Information  Broker Management Course  KREC Approved Pre-License Education Providers KREC Approved Continuing Education Providers KREC Approved Core Course Providers and Schedule	Kentucky License Law Tutorial Statutes + Regulations + Commentary + Quizzes + Cases   KRS 324.030 Posted: January 22, 2007 201 KAR 11:105 -11:220 - 11:250 - 11:350 - 11:400 - 11:430 Posted: May 10, 2007 ~~~~~~~~~ KREC Radio Commercials Advertisement 1 Advertisement 2 Advertisement 3 NOTE: An MP3 compatible player is required. Use browser BACK icon to return to this Index after playing the commercial.
Legal Information

POLICY STATEMENT REGARDING REAL ESTATE BROKERAGE BASED UPON FEDERAL LAWSUIT RULING The Federal District Court for the Western District of Kentucky has issued a preliminary injunction in the case of River Oaks v. Brown. The federal court has upheld the Commission’s right to require licensure for real estate brokerage activity in this state. The Commission is issuing this policy statement in order to outline its interpretation of the judge’s ruling and to give notice of its enforcement policies under this ruling. The Commission will regulate any real estate brokerage activity, as defined by KRS 324.010, that is conducted within the borders of this state. This activity includes, but is not limited to, physical actions, such as showings and negotiations, within the state, Internet advertisements or other advertisements directly seeking Kentucky clients or customers and phone calls and e-mails seeking Kentucky clients or customers. In accordance with the ruling, the Commission will no longer enforce KRS 324.020(4) or 201 KAR 11:121, Section 1(9). If you have any questions about whether an activity will constitute real estate brokerage activity within this state, please contact the Commission’s Legal Department before proceeding.

The KREC Legal Department  Ten Ways to Ensure a Smooth Sailing Real Estate Transaction Explanation of the No Call List The Code of Ethics Versus License Law:  (How they are similar and how they are different) Handling Referral Fees Limited Function Referral Offices (LFRO's) Sellers Consent for Unlicensed Assistant LLC's & Subchapter S corporations

Internet Advertising Print Advertising Buyer's Agency Examples of Contractual Clauses Broker Lien Law Megan's Law Alien Escheat Statute Disclosure Form Alien Escheat Statute - Spanish Alien Escheat Statute Disclosure Form - Spanish New Property Conveyance Bill Sample Advertising Disclosure Form Sample Inducement/Rebate Form

Newly Revised Textbook Kentucky Real Estate Professionals and the Law ~~~~~ NOTICE: On July 15, 2005, the Kentucky Real Estate Commission and the United States Department of Justice filed an Amended Final Judgment in federal district court. On July 13, 2005, the Commission filed emergency regulations. Because of this Amended Final Judgment and these emergency regulations, Kentucky real estate licensees may now offer any inducement or rebate, so long as it is disclosed in writing to the client or customer. Therefore, any portion of this book that references the inducement and rebate prohibitions found in the old versions of KRS 324.160(4)(m), 201 KAR 11:011, Section 1(5) and/or 201 KAR 11:121, Section 1(2) is now obsolete. Please refer to the Commission’s website at www.krec.ky.gov for additional information on the Judgment and the new laws allowing inducements and rebates by Kentucky licensees. Please refer to the box at the top of this Legal Information section for additional information on the Judgment and the new laws allowing inducements and rebates by Kentucky licensees.