A fine of $5,000 was imposed. Robert J. Lindsay, a licensed New Jersey real estate Broker-Salesperson, Passaic County – By Consent Order dated October 21, 2014, ...
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Fines imposed by the Real Estate Commission are up to $5,000 for a first violation and up to $10,000 for any subsequent violation. Upon a third violation, the licensee may be deemed by the Commission as a repeat offender and the Commission may direct that no license shall henceforth be issued to that person.
Any person who violates the New Jersey Law Against Discrimination may face penalties as follows: Up to $10,000 if no prior violation has been committed within the past five years.
If a consumer believes you have violated their rights under RESPA, they have one year to file a claim. Section 8a of RESPA prohibits giving or receiving any referral fees, kickbacks, or anything of value being exchanged for referral of business involving a federally related mortgage loan.
Unethical agents will often use fraudulent misrepresentation to win a listing, sell a property faster, or push for a property to sell faster. Such actions violate ethical standards and are illegal in many jurisdictions.
Breach of fiduciary duty: This occurs when an agent fails to act in the best interests of their client, such as not disclosing a conflict of interest or misrepresenting property conditions. Misrepresentation or false advertising: Providing inaccurate information about a property or services.
When a licensee is guilty of violating the NJ Real Estate License Act or the Rules and Regulations of the NJ Real Estate Commission the Commission may for the first violation: Impose a fine of not more than $5,000. A real estate broker typically can: Prepare a purchase and sale agreement.
(a) With respect to any person required to be licensed, permitted, or authorized by any board, commission or agency attached to the division of regulatory boards, each respective board, commission or agency may assess a civil penalty against the person in an amount not to exceed one thousand dollars ($1,000) for each ...
What's the maximum penalty MREC can levy for these new violations? License law violators may incur penalties of $5,000 for the first violation, $15,000 for the second violation and up to $25,000 per violation after three or more violations.
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