$500 Civil Penalty, 6 hour Contract and Law course
Respondent is charged with engaging in practices harmful or detrimental to the public in violation of Iowa Code sections 543B.56(1)(a) and 543B.56(1)(b) by:
(a) Soliciting a listing or brokerage agreement with an owner if the licensee knows or has reason to know that the owner has a written unexpired exclusive agency or exclusive right to sell listing agreement to the property with another broker. See 193E Iowa Administrative Code §11.1(1).
(b) Negotiating a sale of real property directly with an owner if it is known that he owner has a written unexpired contract in connection with the property which grants an exclusive agency to another broker. See 193E Iowa Administrative Code §11.1(2).
(c) Negotiating directly with the owner knowing that the property was listed with another broker. See 193E Iowa Administrative Code §11.3(8).
(d) Seeking to alter, modify, or change another licensee’s fee or commission for real estate brokerage services without that licensee’s prior written consent. See 193E Iowa Administrative Code §11.3(9).
(e) A commission split agreement between brokers should be a separate document and not included in the purchase agreement.
