A broker failed to renew his/her license in a timely fashion. The broker desires to reinstate the license after the expiration. How much is the late fee?

A broker failed to renew his/her license in a timely fashion. The broker desires to reinstate the license after the expiration. How much is the late fee?

• A. $20
• B. $50
• C. $100
• D. $500

Answer: (C)

When a broker fails to renew their license in a timely manner, they are subject to a late fee as part of the reinstatement process. The applicable late fee for a broker seeking to reinstate their license after expiration is $100. This fee serves as a financial deterrent, encouraging timely renewals and ensuring that brokers remain active and compliant within the regulatory framework. Understanding the importance of maintaining an active license is crucial for brokers, as it impacts their ability to practice legally and effectively in the real estate market. The fee structure is set by regulatory authorities to promote responsible licensing practices among real estate professionals.

When a broker fails to renew their license in a timely manner, they are subject to a late fee as part of the reinstatement process. The applicable late fee for a broker seeking to reinstate their license after expiration is $100. This fee serves as a financial deterrent, encouraging timely renewals and ensuring that brokers remain active and compliant within the regulatory framework.

Understanding the importance of maintaining an active license is crucial for brokers, as it impacts their ability to practice legally and effectively in the real estate market. The fee structure is set by regulatory authorities to promote responsible licensing practices among real estate professionals.