Real Estate Exam [California] 40, Advanced Fees and Prepaid Rental Listing Services

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - An advance fee agreement must be approved by the California DRE before a broker can collect any funds. - All advance fees must be deposited into a broker's trust account and remain the property of the principal until earned. - A Prepaid Rental Listing Service (PRLS) license is required to sell rental lists to tenants for an upfront fee and is valid for two years. - Real estate brokers can conduct PRLS activities without a separate license but must use a DRE-approved contract. - The core reason for strict regulation of advance fees is to protect consumers from potential fraud. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep