Real Estate Examiner I

  • Real Estate Examiner I
  • What will I be doing?
  • Do I qualify?
  • Can I be successful?
  • Benefits
  • How do I apply?
Class Number: 
7871
Annual Salary Range:
$30,576.00 – $42,780.00
Twice-a-Month Salary Range:
$1,274.00 – $1,782.50
Pay Grade: 
A18

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Definition

This is entry-level professional fieldwork in the financial examination of real estate brokers licensed under the authority of the Missouri Real Estate Commission (MREC).MREC).

Job Duties

Conducts and assists in periodic or special financial examinations of real estate brokers for adherence to regulations, reconciliation of accounts, and fiduciary responsibility.

Reviews relevant historical documents prior to initiating an examination.

Initiates discovery requests for automated data or hard-copy logs, ledgers, or registers.

Analyzes profit and loss records and balance sheets, determines financial liabilities to property owners and tenants, and checks the sufficiency of escrowed funds to meet current liabilities.

Travels to on-site locations, interviews staff, and conducts examinations; assesses business documents, records, and procedures for fraud, malfeasance, or work practices that violate MREC regulations.

Examines pending and closed transactions to determine possession and trail of funds; documents the irregular or untimely movement of money.

Reconciles and evaluates the registration and handling of earnest moneys, rents, security deposits, and/or other funds collected from clientele.

Gathers and organizes evidentiary documentation and testifies in administrative and court hearings.

Prepares litigation summary reports for Attorney General’s Office, as needed.

Verifies transactions by inspection of bank statements and returned checks.

Compares payment/payee ledgers to actual returned checks to ensure they are linked by documentation.

Evaluates management and sales transaction documents to ensure compliance with MREC rules and regulations.

Evaluates time limitations for the deposit or transfer of funds from one account to another for the unethical holding of earnest money or security deposits.

Determines earnest money liabilities by evaluating transaction files.

Reviews management agreements and apportionment requirements; ensures funding allocated for security deposits is appropriately spent.

Prepares written technical reports of audit findings.

Reviews security deposits and rents to ensure the proper handling of funds.

Conducts examinations of businesses that have been placed on probationary status.

Provides documented recommendations to the supervisor for review, comment, and further action.

Receives instruction and completes assignments under general supervision; work is closely reviewed for technical accuracy and conformance to established policies and procedures.

Performs other related work as assigned.

Areas of Interest: 
ACCOUNTING, AUDITING & FINANCE; BUSINESS REGULATION, SAFETY & INSPECTION; COLLEGE GRADUATES

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(The following minimum qualifications will determine merit system eligibility.  Allowable experience and education substitutions are provided in italics below the corresponding minimum qualification statement; no other substitutions will be permitted.  These minimum qualifications may also be used to evaluate applicants for Missouri Uniform Classification and Pay System positions not requiring selection from merit registers.)

A Bachelor’s or higher-level degree from an accredited college or university with a minimum of six earned credit hours in Accounting, Finance, or Auditing.

(Technical or professional experience in the areas of accounting, finance, or auditing may substitute on a year-for-year basis for deficiencies in the stated college education.)

Special Requirements

Must complete and pass the Real Estate Salesperson course and examination within six months of appointment.

Possession of a valid driver’s license.

Please note that documentation that supports your eligibility (i.e. transcripts, employment records, etc.) may be required at any time during the application and hiring process. If you do not possess the minimum qualifications, please consider one of many other employment opportunities with the State of Missouri.

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Key Skills

Do you possess the key skills which are considered essential for successful employment in this classification?

Introductory knowledge and understanding of financial reports.

Introductory knowledge of accounting and auditing principles and practices.

Introductory knowledge of the MREC regulations and real estate industry standards.

Ability to apply principles of logical thinking to define problems, collect data, establish facts, and reach valid conclusions, while interpreting an extensive variety of accounting and management information.

Ability to understand and apply basic accounting, financial, and auditing principles and practices.

Ability to apply interviewing techniques and solicit pertinent information in real estate brokerage firms.

Ability to perform detailed work using financial, accounting, and transaction portfolio data.

Ability to use a calculator, personal computer, and related office equipment.

Ability to establish and maintain effective working relationships with co-workers, real estate industry personnel, and others involved in the examination process.

Ability to communicate effectively and prepare clear and concise technical reports.

Ability to testify in court hearings while under oath.

Ability to establish and complete daily work schedules.

Ability to travel in the performance of assigned duties.

Ability to safely operate an assigned state owned vehicle.

Ability to work independently with limited supervision.

View Class Specification Document

The following link will provide you with general information about State of Missouri employee benefits.

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View Class Specification Document