This page addresses the most common topics that are raised by licensees and consumers. Please read each topic below to find answers to your questions before reaching out to the General Counsel’s office for additional information.
Note on Legal Services
We cannot provide licensees or consumers legal advice concerning a private business matter or draft or interpret any legal contract, agreement, disclosure, release, form, or other documents. See Kentucky Supreme Court Rule 3.13(4.2,4.3). The Kentucky Bar Association may be able to help you find an attorney. Alternatively, Kentucky Realtors offers additional legal resources on their website.
- Kentucky Bar Association Lawyer Locator
- Kentucky Realtors Legal Help
View a recently filed amendment to 201 KAR 11:121:
201 KAR 11:121 - Filed 08.15.22
Material Incorporated by Reference
License Statutes and Regulations
The following links will provide you with the statutes and regulations for the Real Estate Authority professions:
- Real Estate Agent Statutes (KRS 324.010 – KRS 324.990)
- Real Estate Commission (Chapter 11)
- Auctioneer Statutes (KRS 330.10 - KRS 330.990)
- Auctioneer Regulations (Chapter 3 – Board of
Auctioneers)
(Chapter 2 Kentucky Board of Home Inspectors) - Appraiser State Statutes (KRS 324A.010 – KRS 324A.164)
- Appraiser State Regulations (Chapter 30 – Real Estate Appraisers Board)
KRS Chapter 324
324.010 Definitions
324.020 Requirement of licensing -- Application of chapter to owner or builder-developer -- Prohibition against fee splitting -- Exceptions -- Supervision of sales associate -- Authority to seek injunctive relief.
324.030 Exceptions to KRS 324.020.
324.040 Application for license as broker or sales associate.
324.046 Requirements for initial licensure.
324.080 Form of license certificate -- Delivery.
324.085 Continuing education requirements -- Post-licensure education requirements -- Qualifications of instructors -- Administrative regulations.
324.090 Expiration of license -- Fine for failure to renew on time -- Expired status.
324.111 Escrow account of broker -- Interest -- Audit -- Contract deposit release -- Separate property management accounts.
324.112 Broker to manage certain branch offices -- Qualified sales associate may manage certain branch offices -- Registration of branch offices -- Filing of licenses -- Temporary affiliation of one principal broker with another.
324.115 Brokers required to maintain definite place of business -- Exception for reciprocity agreements.
324.117 Advertising -- Affiliations to be listed -- Administrative regulations of commission.
324.121 Designation of licensee as exclusive agent -- Effect of designation -- Availability of dual agency.
324.141 Reciprocal licensing between states -- Consent to service of process by nonresident applicant.
324.142 Promotion of sales in Kentucky of property located outside state.
324.150 Investigation of licensee -- Disciplinary action against licensee --Investigative powers of commission -- Emergency hearings.
324.151 Complaints -- Answers.
324.160 Sanctions -- Grounds for sanctions.
324.162 Agent's duty to disclose.
324.165 Prohibited business practices -- Penalties.
324.170 Hearing to precede any disciplinary action -- Notice -- Conduct of hearing.
324.200 Hearing -- Denial of license or any other disciplinary action -- Appeal -- Stay of judgment pending appeal.
324.220 No other license to be issued for five years after revocation.
324.230 Revocation or suspension of principal broker's license renders inactive the license of person associated with broker.
324.235 Definitions for KRS 324.235 to 324.238.
324.236 Engaging in commercial real estate brokerage by out-of-state principal broker and out-of-state licensee.
324.237 Notice of affiliation with Kentucky cooperating broker required.
324.238 Compliance with KRS 324.160(4) and 324.235 to 324.238 -- Sanctions and penalties.
324.281 Kentucky Real Estate Commission -- Members -- Terms -- Vacancies -- Duties -- Mandatory continuing education -- Compensation of members.
324.2811 Automatic removal of member from commission.
324.2812 Limitation of commission's jurisdiction.
324.282 Election of chairperson -- Rules and regulations.
324.284 Employees -- Office -- Equipment and supplies.
324.285 Seal -- Records.
324.286 Disposition of fees -- Payment of expenses.
324.287 Fees.
324.288 Affiliation fee.
324.310 Delivery of sales associate's license to commission when association terminated -- Placing license in inactive status with commission -- Reactivating license.
324.312 Commission's right to return of associate's license -- Sanction for failure to return.
324.330 Notice of change of location, firm name, surname, or associate -- New license.
324.360 Form for seller's disclosure of conditions.
324.395 Errors and omissions insurance mandatory for all active status licensees -- Extended reporting period coverage insurance for inactive licensees.
324.400 Real estate education, research, and recovery fund -- Fees.
324.410 Purposes of fund.
324.420 Collection by aggrieved party from recovery fund.
324.425 Closing existing business of deceased or incapacitated principal broker.
324.980 Persons to whom KRS Chapter 324 does not apply.
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