Current through August 30, 2024
(a) All real estate
education courses used to qualify for initial licensure must
(1) meet the requirements of
12 AAC 64.400 -
12 AAC 64.470 and this section;
and
(2) have been completed within
the 18 months immediately preceding the date of application, except that the
real estate education courses used to qualify for initial licensure by
endorsement must have been completed within the 24 months immediately preceding
the date of application.
(b) To meet the real estate education
requirements for licensure under
AS
08.88.171(a) or (b), an
applicant for a broker or associate broker license must document completion of
the following contact hours of education in the following topics:
(1) broker supervision requirements and
record keeping - four contact hours;
(2) trust accounting procedures - three
contact hours;
(3) organizing and
managing a real estate office - three contact hours;
(4) property management - two contact hours;
and
(5) boker - level education to
understand the applicability of the following areas covered previously in the
applicant's education course to receive a real estate saleperson licence:
(A) licensee relationships, disclosure, and
conflict of interest - three contact hours;
(B) forms of ownership - two contact
hours;
(C) property law. public and
private rights and limitations - two contact hours;
(D) forms of conveyances and recording of
documents - two contact hours;
(E)
contracts and transaction documents - two contact hours;
(F) financing instruments and accounting
principles - two contact hours;
(G)
Alaska real estate license law and Alaska landlord tenant law - three contact
hours; and
(H) federal fair housing
and Real Estate Settlement Procedure Act (RESPA) laws- two contact
hours.
(c) To
meet the real estate education requirements for licensure under
AS
08.88.171(c), an applicant
for an initial real estate license shall document completion of the following
topics and hours:
(1) licensee relationships,
disclosure, and conflict of interest - six contact hours;
(2) forms of ownership - four contact
hours;
(3) property law, public and
private rights and limitations - four contact hours;
(4) forms of conveyances and recording of
documents - four contact hours;
(5)
contracts and transaction documents - eight contact hours;
(6) financing instruments and accounting
principles - six contact hours;
(7)
Alaska real estate license law and Alaska landlord tenant law - six contact
hours; and
(8) federal fair housing
and RESPA laws - two contact hours.
(d) To document the real estate education
received, an applicant shall list on the application form the following
information:
(1) course title and commission
course approval number, if applicable;
(2) course sponsor;
(3) number of contact hours; and
(4) instructor of the course.
(e) An associate broker who has
met the education requirements in (b) of this section does not need to repeat
those requirements when upgrading to a broker license.
(f) A licensee is responsible for maintaining
adequate and detailed records, including course certificates or transcripts,
showing completion of education courses claimed, and shall make the records
available to the commission upon request. Records must be retained for three
years after the date a course was taken.
(g) For the purposes of this section and
AS
08.88.091,
(1) one contact hour equals a minimum of 50
minutes of instruction;
(2) one
academic semester credit hour equals 15 contact hours;
(3) one academic quarter credit hour equals
10 contact hours.
Authority:AS
08.88.081
AS 08.88.091
AS
08.88.171
