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
An adversary hearing allows both parties to an issue to present their views. A public procedure performed by an administrative or legislative body to investigate certain matters and ...
Right of a current stockholder to maintain the percentage ownership in a real estate company by purchasing new shares on a proportionate basis before they are issued to the public. It ...
Time interval between buying a real estate investment and selling it. A sound way to determine the return from a real estate investment is over its life. For example, if land was bought on ...
The float has several meanings in the financial world and the real estate terminology. Typically, the float refers to the number of funds, represented by checks, that an institution or an ...
Property highly leveraged. An example is when a landlord buys an apartment house paying minimum cash payment down and the balance on mortgage. ...
...
Generally speaking, the meaning of warehousing refers to the act of storing assets and keeping a physical inventory expecting a sale or distribution of goods at a later date. Warehousing is ...
Aerial photos are photographs taken by cameras mounted in aircraft or satellites. Aerial photos are more commonly used in the industrial Real Estate Market to get a better feel of a ...
To pass property by will to an heir. Strictly speaking, real estate cannot be bequeathed to an heir, it must be devised. However, if it becomes clear the purpose of the testator was to ...
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?
We're here to help.