Section 1450.705  Supervision

a)         A managing broker shall exercise supervision over the activities of licensees and unlicensed assistants working in those offices managed by the managing broker. This supervision of activities includes, but is not limited to:

1)         the implementation of and communication to sponsored licensees of office policies and procedures established by the sponsoring broker;

2)         training of licensees or unlicensed assistants;

3)         supervise and assist licensees in real estate transactions;

4)         supervising those special (escrow) accounts over which the sponsoring broker has delegated responsibility to the managing broker in order to ensure compliance with the special (escrow) account provisions of the Act and this Part;

5)         supervising all advertising, in any media, of any service for which a license is required;

6)         familiarizing sponsored licensees with the requirements of federal and State laws and local ordinances relating to the practice of real estate; and

7)         compliance with this Part for licensees and offices under his/her supervision.

b)         The sponsoring broker shall establish a written office policy and remain ultimately responsible for compliance with this Part. The sponsoring broker shall name a managing broker for every office.

c)         Any violation of the provisions of the Act on the part of any licensees employed by a sponsoring broker or associated by written agreement with the sponsoring broker, or unlicensed employee of a sponsoring broker, shall not be cause for suspension or revocation of the license of the sponsoring broker or a managing broker of the sponsoring broker, unless the sponsoring broker or managing broker had knowledge of the violation of the Act. However, failure to provide an appropriate company policy or failure to properly supervise shall be cause for discipline, including suspension or revocation, of the license of the sponsoring broker or one or more managing brokers.