Synopsis As Introduced Amends the Real Estate License Act of 2000. Creates an exemption from the licensing requirements under the Act for any person who holds a valid license under the Auction License Act while conducting an auction for the sale of real estate, provided that certain provisions are complied with. Creates a new provision that provides the Department of Financial and Professional Regulation shall issue a real estate auction certification to applicants who meet certain qualifications. Provides that enabling, aiding, or abetting an auctioneer to conduct a real estate auction in a manner that is in violation of the Act shall be grounds for discipline. Makes corresponding changes in the Auction License Act. Effective on January 1, 2014.
Replaces everything after the enacting clause. Reinserts the language of the engrossed bill. Provides that applicants for real estate auction certification must successfully complete a real estate auction course approved by the Department of Financial and Professional Regulation (was previously approved by the Real Estate Education Advisory Council) and provide documentation of the completion of the real estate auction course. Provides that advertising for real estate auctions must contain the name and address of the licensed real estate broker, managing broker, or a licensed auctioneer under a specified provision of the Act who is providing brokerage services for the transaction (previously did not include the licensed auctioneers). Provides that information collected by the Department in the course of an examination or investigation and any complaints filed with the Department shall be maintained for the confidential use of the Department and shall not be disclosed. Effective on January 1, 2014.