/ / / / / KRS 324.020 Requirement of Licensing, Builder Developer, Fee Splitting, Supervision of Sales Associate, and Authority to Seek Injunctive Relief

KRS 324.020 Requirement of Licensing, Builder Developer, Fee Splitting, Supervision of Sales Associate, and Authority to Seek Injunctive Relief


(1) It shall be unlawful for any person who is not licensed as a real estate broker or sales associate to hold himself or herself out to the public as a real estate broker or sales associate or use any terms, titles, or abbreviations which express, infer, or imply that the person is licensed as a real estate broker or sales associate.

(2) No person shall practice real estate brokerage with respect to real estate located in
this state unless:
(a) The person holds a license to practice real estate brokerage under this chapter;
or
(b) The person has complied with KRS 324.235 to 324.238.

(3) A licensee who is an owner or a builder-developer shall comply with the provisions
of this chapter
and the administrative regulations applying to real estate brokers and
sales associates.

(4) No broker shall split fees with or compensate any person who is not licensed to
perform any of the acts regulated by this chapter, except that a broker may:
(a) Pay a referral fee to a broker licensed outside of Kentucky for referring a
client
to the Kentucky broker;
(b) Pay a commission or other compensation to a broker licensed outside of
Kentucky
in compliance with KRS 324.235 to 324.238; or
(c) Pay a licensed auctioneer for services rendered in cases where an auctioneer
and real estate broker collaborate
in the conduct of a sale of real estate at
auction.

(5) Except as authorized in KRS 324.112(1) and 324.425, no sales associate shall
supervise another licensed sales associate or manage a real estate brokerage office
.

(6) The Kentucky Real Estate Commission may seek and obtain injunctive relief
against any individual acting in violation of this chapter by filing a civil action in
the Circuit Court where the commission is located or where the unlawful activity
took place.

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