Chapter 1
Kentucky Real Estate Law & Regulations
Course: Kentucky Real Estate Exams Prep
Subject: Kentucky State Sales Associate Exam Prep
Chapter: Kentucky Real Estate Law Regulations Of Kentucky National Sales Associate Exam Prep
License Status Types:
- Active: The working status. The licensee is sponsored, pays annual fees, completes CE, and can legally list, sell, and negotiate. The broker provides oversight, errors and omissions insurance, and infrastructure.
- Inactive: The licensee is not sponsored by a broker but has renewed their license. They cannot engage in any licensed activity for compensation. They are not required to carry errors and omissions insurance but must still pay renewal fees and complete CE. This status is common for licensees taking a career break or moving to a non-sales role.
- Referral-Only: A subtype of inactive status. The licensee can only receive referral fees for directing clients to other active licensees. They cannot discuss property details, show homes, or negotiate contracts. They must have a written agreement with the receiving broker and disclose the referral fee to the client.