Question 85

A secretary in a real estate office who does NOT have a real estate license may perform bookkeeping functions concerning escrowed funds.

A secretary without a real estate license is permitted to perform bookkeeping functions concerning escrowed funds, as this task does not require a licensed real estate professional. It is a clerical duty that involves managing financial records rather than engaging in real estate transactions.

A) review the Consumer Information Statement with a prospective buyer

This option is incorrect because reviewing the Consumer Information Statement involves providing information about real estate practices and regulations, which typically requires a licensed real estate professional to ensure compliance with legal standards.

B) perform bookkeeping functions concerning escrowed funds

This option is correct as secretaries may handle bookkeeping related to escrowed funds without needing a real estate license. Such tasks are administrative in nature and do not involve negotiation or sales activities that would require licensing.

C) sign escrow checks with the written authorization of the broker

This option is incorrect because signing escrow checks usually requires a licensed individual to ensure proper handling of financial transactions in real estate. Even with written authorization, this task is beyond the scope of what an unlicensed secretary can do.

D) disclose the current status of a commercial listing

This option is incorrect as disclosing the current status of a commercial listing constitutes engaging in activities related to real estate brokerage. Such disclosures should only be made by licensed professionals who can provide accurate and legally compliant information.

Conclusion

The ability for a secretary to perform bookkeeping functions concerning escrowed funds is clearly delineated from other activities that require licensing, such as disclosure or review of legal documents. Other options like signing checks or disclosing listing statuses involve aspects of the real estate transaction process that necessitate a license, thereby solidifying option B as the only correct choice.