Iowa Admin. Code r. 193E-3.5

Current through Register Vol. 47, No. 6, September 18, 2024

Rule 193E-3.5 - Renewing a broker license

To remain authorized to act as a real estate broker, a broker renews a real estate license before the expiration date of the license. Brokers who fail to renew a real estate license before expiration are not authorized to practice as real estate brokers in Iowa. Termination of a broker's authority to practice real estate in Iowa automatically terminates the authority of all salespersons employed by or assigned to the broker.

(1)Application forms. Applications for renewal of a broker's license may be found on the commission's website. Brokers renew electronically. While the commission generally mails reminders to brokers in the November preceding license expiration, the failure of the commission to mail a reminder does not excuse the broker from the requirement to renew prior to the expiration of the license.

(2)Qualifications for renewal. The commission grants an application to renew a broker's license if:

a. The application is timely received by the commission by December 31, or within the 30-day grace period after expiration as provided by Iowa Code section 543B.28.

b. The application is accompanied by the regular renewal fee and, if received by the commission after midnight December 31 but prior to midnight January 30, is accompanied by a penalty of $25.

c. The application is fully completed with all necessary information, including proper disclosure of completed continuing education and errors and omissions insurance.

d. The application does not include grounds to deny a license, such as the revocation of a license in another jurisdiction or a criminal conviction.

(3)Incomplete or untimely applications to renew. Renewal applications received by the commission after midnight January 30 will be treated as applications to reinstate an expired license under rule 193E-3.6 (272C,543B).

a. Applications to renew or reinstate a broker's license which are incomplete or which are not accompanied by the proper fee may be returned to the broker for additional information or fee.

b. Alternatively, the commission may retain the application, and notify the applicant that the application cannot be granted without further information or fee.

(4)Insufficient continuing education. Renewal applications which do not report completion of required continuing education, but which are otherwise timely and sufficient and accompanied with the proper fee, are renewed in inactive status. In the event of a factual dispute regarding the broker's intent to renew in inactive status or a broker's completion of continuing education, the commission may deny the application and provide the applicant with an opportunity for hearing according to the procedures set forth in rule 193-7.39 (546,272C).

(5)Denial of application to renew. An application to renew may be denied on the grounds provided in Iowa Code chapter 543B and in rule 193-7.39 (546,272C). The administrative processing of an application to renew does not prevent the later initiation of a contested case to challenge a licensee's qualifications for licensure.

(6)Renewal of inactive or suspended license. An inactive or suspended license expires if not timely renewed. The status of a license does not affect the requirement to renew.

Iowa Admin. Code r. 193E-3.5

Amended by IAB August 2, 2017/Volume XL, Number 03, effective 9/6/2017

Adopted by IAB April 17, 2024/Volume XLVI, Number 21, effective 5/22/2024