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Commission Newsletter | November 2021 |
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Who is a Licensee and Who is a REALTOR®?
It is important for licensees to understand the difference between the Kansas Real Estate Commission (KREC) and the Kansas Association of REALTORS® (KAR). If you hold a Kansas real estate license, you are a licensee. Not all real estate licensees are REALTORS®, however.
KREC is a state agency that governs real estate practices, issues your license, and enforces license law. All Kansas real estate licensees must abide by the statutes and regulations under the jurisdiction of the Commission. KREC does not require the Code of Ethics course for license renewal.
KAR is a private industry group that provides member services and advocates on behalf of the real estate industry. A REALTOR® is a member of the local, state, and the National Association of REALTORS®. Association members are required to abide by the Code of Ethics and other rules under the membership agreement. In many areas, the local association governs the MLS rules and regulations.
A two-year renewal fee and twelve hours of continuing education are required to maintain licensure through KREC. Separately, the payment of annual membership dues and completion of the Code of Ethics training during each three-year cycle are required to maintain REALTOR® membership. KREC and KAR do not share a database. A licensee who is also a REALTOR® should report contact information and status changes to both KREC and their local association.
*Data obtained from KAR and KREC on Nov.5, 2021. KAR data include those who are full members but don’t pay dues. KREC data include those who are active, inactive, suspended, and expired renewable.
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Name the Escrow Agent in the Purchase Contract
Lynn Comfort | Real Estate Specialist/Auditor
Often, the escrow agent is incorrectly listed as TBD (to be determined) in the purchase contract. Not including the escrow agent is a violation of K.S.A 58-3062(a)(11) which states that no licensee, whether acting as an agent, transaction broker or a principal, shall “fail to see that financial obligations and commitments between the parties to an agreement to sell, exchange or lease real estate are in writing, expressing the exact agreement of the parties or to provide, within a reasonable time, copies thereof to all parties involved.” All parties to the contract should know who is holding the earnest money.
A dispute could occur between the buyer and seller regarding who will get the earnest money when the transaction fails to close. A purchase contract without the escrow agent named or inaccurately named could complicate the process if the matter goes to court.
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Employee Spotlight
Kiereon Sisney is a Real Estate Specialist at KREC. He is responsible for reviewing brokers transaction files and trust accounts for compliance with KREC statutes and regulations. He also periodically investigates complaints. Kiereon grew up in Wichita and attended Kansas State University. Kiereon has held a Kansas salesperson’s license since 2015 (currently on inactive status) and has been with KREC since 2017. Kiereon and his wife have three children and in his free time he enjoys woodworking and photography.
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Disciplinary Actions
Revocations, suspensions, and aggregate fines greater than $500 issued 09/21/21 – 11/17/21.
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Docket Number
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Last
Name
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First
Name
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License Number
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Legal Action
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Effective
Date
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21-9785
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Dymond
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Brad
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00229130
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Fine
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10/04/21
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22-9884
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Simons
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Kenneth
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00032054
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Fine
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11/15/21
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21-9789
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Svoboda
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Nathan
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00238569
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Fine
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10/05/21
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Upcoming Events
- November 25-26: KREC office closed
- December 6: Commission meeting
- January 24: Commission meeting
- January 26: Broker Supervision compliance course
- February 2: BRRETA compliance course
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Errol Wuertz | Chair, 1st District
Bryon Schlosser | Vice Chair, 2nd District
Clarissa Harvey | 3rd District
Natalie Moyer | 4th District
Jacqueline Kelly | Public Member
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Erik Wisner | Executive Director
Laura Kelly | Governor
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Disclaimer: This information is provided as a public service to enhance public education. It is not intended to take the place of statutory law, regulations, or guidance documents. Such information is subject to change. This information is not legal advice, therefore, if you have additional questions or need clarification, please consult with your own legal counsel for assistance or legal advice. |
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