What is the education and recovery account fee for affiliate brokers in Tennessee?

The education and recovery account fee for affiliate brokers in Tennessee is set at $10. This fee is established to support the education and recovery fund meant for real estate professionals. The fee is required to be paid at the time of initial licensure and renewal, ensuring that funds are available for educational programs and also for providing recovery for consumers who have suffered losses due to the actions of real estate licensees. This fee plays a crucial role in maintaining the integrity and professionalism within the real estate industry in Tennessee. Understanding this financial obligation is essential for affiliate brokers to ensure compliance with state regulations and to help them uphold the standards of their profession.