Question

Jennifer obtained a real estate license in Florida and had a license in West Virginia. Jennifer, while working in Florida real estate, was working with a buyer, she wrote a sales contract on waterfront home. The buyer gave Jennifer a deposit of $5,000 but she forgot to give it to her broker within the required 3-day time requirement. The issue was reported to the Florida Real Estate Commission, as result, she was fined $500 and given a 30 day probation at the final hearing. How quickly does Jennifer need to report the judgment and findings to West Virginia Real Estate Commission?

Answer 1

Jennifer needs to review the regulations in West Virginia to determine the specific timeframe in which she must report the disciplinary action taken by the Florida Real Estate Commission. Commonly, she may be required to report within 30 days, but this period can vary and it's crucial to check the West Virginia laws.

Step-by-step explanation:

When a real estate agent is disciplined in one state, they typically must report the disciplinary action to the other states where they hold a license. The specifics can vary from state to state, but many have a requirement to report such actions within a certain timeframe. Jennifer, having faced disciplinary action by the Florida Real Estate Commission, must be diligent in reporting this to the West Virginia Real Estate Commission. While the exact reporting period may not be spelled out in the question, it's common for states to require notification within 30 days of the final disposition. It's important for Jennifer to review the laws and regulations in West Virginia to ensure compliance, as failing to report disciplinary action in a timely manner may result in additional penalties.