When will the Real Estate Commission assess a surcharge on license applications or renewals?

The Real Estate Commission assesses a surcharge on license applications or renewals when the fund is below a specified threshold, which is $450,000 in this case. This approach is designed to ensure that the fund remains adequately funded to support the operations and regulatory activities of the Commission.

When the fund drops below this level, the surcharge helps to generate additional revenue to maintain proper oversight and resources necessary for the administration of real estate licensing. This mechanism is essential for ensuring that the Commission can fulfill its responsibilities and continue to provide oversight without undue interruption or financial strain.

By implementing a surcharge under these circumstances, the Commission can take proactive measures to address any potential funding shortfalls, ensuring that it can effectively protect both consumers and licensees in the real estate market.