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Real Estate Education and Research Fund

DEFINITION

Fund created to promote real estate research by using a portion of testing and agent fees to carry out the goals and initiatives of the fund.

EXPLANATION

The Department of Real Estate is not funded through the state’s general fund; rather, it is funded through real estate licensing and examination fees. The revenue derived from these fees is set aside into two accounts: The Real Estate Education and Research Fund and the Consumer Recovery Account.

The Real Estate Education and Research Fund commissions studies at public and private universities to help the DRE better understand the real estate market and current financial events.

Twenty percent of total licensing fees are allotted to a Consumer Recovery Account. The purpose of this trust fund is to compensate victims of fraud committed by a licensed agent or broker for a maximum recovery amount of $50,000.

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