AREC – May Meeting Held – Agent-Owned Property Rule Amendment
May 23, 2022
Commissioners on the Alabama Real Estate Commission (AREC) met in Montgomery last Thursday, May 19, for their monthly meeting. Chaired by Vice Chair Terri May in Emmette Barran’s absence, the meeting included a public hearing on a proposed rule amendment along with the normal slate of reports and hearings. Here are the meeting highlights.
Public Hearing Held on Proposed Rule
A rule amendment on agent-owned properties received a public hearing at the meeting. No comments were made or received during the public hearing. In March, Commissioners approved an amendment to the rule on agent-owned properties, clarifying that transactions involving agent-owned properties are governed by license law in two scenarios: 1) when the licensee/owner’s broker or company is involved in the transaction (i.e., advertising, marketing, etc.), or 2) when the licensee/owner seeks or obtains a commission for the transaction. You can view the rule amendment here. Comments can be sent to the Commission through June 10, addressed to 1201 Carmichael Way, Montgomery, Alabama 36106.
With a light schedule, Commissioners moved through the hearing docket quickly. Commissioners heard six complaints, one request for deadline extension to apply for a salesperson’s license, two applications for determination of licensing eligibility, and one application for a salesperson’s temporary license.
The Commission meets next on June 23, followed by a meeting on July 21. Both meetings will begin at 9 am and are located at AREC’s building in Montgomery. You can view the meetings virtually from AREC’s website here.