National Association Of Real Estate License Law Officials (NARELLO)
Definition of "National Association of Real Estate License Law Officials (NARELLO)"
Founded in 1930 and located in Centerville, UT, NARELLO has 700 members consisting of state administrators managing real estate licensing laws. It seeks to improve real estate licensing examination administration, improve the effectiveness of license law management and implementation, and improve real estate licensing procedures. It conducts training workshops.
Popular Real Estate Terms
Written statements about a person or business that are malicious, unfounded, and damaging. It is the basis for legal action. ...
Dry ravine formed by water runoff. ...
The definition of a service fee or brokers fee in real estate is a flat fee paid to a real estate agent or broker in addition to the commission for the sale or purchase. This is to cover ...
Any lease with a specific starting time and a specific ending time. ...
(1) Judgment against a defendant who does not respond to the plaintiffs lawsuit or fails to appear in court at the hearing or trial date. (2) Judgment issued by the court against the ...
Site where mobile homes are located. Mobile home parks are often mandated by municipal zoning laws. They provide necessary utilities to the mobile homes often including recreational ...
Connected group of wires, woods, or other materials surrounding real property to either protect it or act as a barrier against others. ...
(1) Return of the principal invested in real estate. It excludes income earned. (2) Collection of a previously written off bad debt. ...
Table demonstrating the relationship between the depth of a building lot form the street frontage and its market value. Street frontage is the greatest asset of a land parcel. The ...
Comments for National Association Of Real Estate License Law Officials (NARELLO)
What states restrict dual agency?
Feb 21, 2022 23:26:15Hey Stan! Thank you for reaching out to us. Based on our research, we discovered that while some states do not allow dual agency, there are some that allow designated representatives. The states of Colorado, Florida, Kansas, and Oklahoma do not permit dual agency. Still, Alaska, Texas, Wyoming, Vermont, and Maryland allow designated representatives, meaning that while the dual agency is illegal, they allow brokers to designate a brokerage licensee to the buyer and seller of the transaction, each with fiduciary duties. I hope this clarifies things.
Mar 04, 2022 15:13:47Have a question or comment?
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