What is the purpose of the Real Estate Recovery Fund?

The Real Estate Recovery Fund is established primarily to provide financial protection for consumers who experience losses due to the wrongful acts of licensed real estate professionals, such as fraud, misrepresentation, or violations of real estate law. When a consumer is harmed, they may be able to seek compensation from this fund, which helps ensure that individuals have a means of recourse and that their financial interests are safeguarded in the real estate transactions. This protective measure enhances consumer confidence in the real estate market and promotes ethical behavior among real estate professionals.

The other options do not align with the primary function of the Recovery Fund. Supporting training programs, funding commission salaries, and promoting marketing initiatives do not directly address consumer protection in the context of real estate transactions.