A real estate license could be suspended or revoked for several reasons. In Tennessee, one of the more common reasons for a real estate license to be suspended is the failure to pay student loans or child support payments. Your best action if one of these reasons applies to you is to contact one of two outlets for assistance:
- Tennessee Student Assistant Corporation
- Tennessee Department of Human Services
After reaching out to one of these two departments, an official will be able to advise you on what next steps you should take. This usually involves making a payment towards one of your debts. From there, your suspension could be released. Once the suspension is released and your license renewal payment is up to date, you will be eligible to receive your license once again.
Other Reasons for Losing Your Real Estate License
The road to becoming a realtor is no simple task. While this process tends to vary depending on the state, those interested in Tennessee must take a course and pass a test in order to receive their license. It should also be noted that this process could look different for Tennessee residents who held a real estate license in another state in the past. Nonetheless, the process is taken very seriously, so when a licensed realtor does something to put their job in jeopardy, it’s possible they could lose their license. Here’s a look at a few other ways realtors could have their licenses suspended or revoked:
Failure to Pass Renewal Examination
Depending on the type of real estate license you hold in Tennessee, you may need to renew your license once every few years. Failure to do so and, while still carrying out your everyday job responsibilities, could result in the suspension of your license. This is why it’s important to be educated on what kind of license you have and how often it must be renewed.
Actions Related to Your Job
Just like any job, cutting corners could have repercussions. In the real estate industry, there are usually a few loopholes. Some could be completely legal, but others could be punishable and subject to steep fines. If a realtor decides to take a shortcut just so a client will be satisfied with their services, it could result in the suspension of their real estate license. Depending on the severity of the act, obtaining another license could be hard, if not impossible.
Realtors are supposed to be able to provide clients with a safe experience in the search or sale of a home. Therefore, background checks are constantly processed on people wishing to become realtors and obtain their licenses. So, if a realtor chooses to do something against the law it could conclude in the suspension of their license. One of the more common criminal charges that result in the suspension of a real estate license is a DUI. Being that realtors drive their clients around to certain houses, DUIs are an easy target for real estate license suspension.
Find Your Advocate Today
If you’ve had your license revoked or suspended, it’s important to be aware of your next steps. At Eldridge & Blakney, our team of legal professionals is committed to advocating for your career interests. We know that realtors are under a high amount of pressure when it comes to their code of conduct. That’s why we provide our clients with the best possible legal representation when it comes to repossessing their real estate licenses.
For more information on real estate license suspensions in the state of Tennessee, feel free to contact Eldridge & Blakney today!