Ky. Rev. Stat. » Chapter 324
Kentucky Revised Statutes

Ky. Rev. Stat. § 324.010 (2026)

Definitions for chapter

✓ current as of May 2026
Find cases: SyfertCases citing this section KY-LRCapps.legislature.ky.gov JustiaChapter on Justia CornellLII Search CasesGoogle Scholar

As used in this chapter, unless the context requires otherwise: (1) "Real estate brokerage": (a) Means a single, multiple, or continuing act of dealing in time shares or options, selling or offering for sale, buying or offering to buy, negotiating the purchase, sale, or exchange of real estate, engaging in property management, leasing or offering to lease, renting or offering for rent, or referring or offering to refer for the purpose of securing prospects, any real estate or the improvements thereon for others for a fee, compensation, or other valuable consideration; and (b) Includes advertising for sale an equitable interest in a contract for the purchase of real property between a property owner and a prospective purchaser; (2) "Commission" means the Kentucky Real Estate Commission; (3) "Net listing" means a listing agreement that provides for a stipulated net price to the owner and the excess over the stipulated net price to be received by the licensee as the fee compensation or other valuable consideration; (4) "Principal broker" means a person licensed as a broker under KRS 324.046 who, in addition to performing acts of real estate brokerage or transactions comprehended by that definition, is the single broker responsible for the operation of the company with which he or she is associated; (5) "Real estate" means real estate in its ordinary meaning and includes timeshares, options, leaseholds, and other interests less than leaseholds; (6) "Sales associate" means any person licensed in accordance with KRS 324.046(2) that is affiliated with a Kentucky-licensed principal broker and who, when engaging in real estate brokerage, does so under the supervision of the principal broker; (7) "Approved real estate school" means: (a) A school that has been given a certificate of approval by the Kentucky Commission on Proprietary Education or other regulatory bodies that exercise jurisdiction over accreditation and approval and the Kentucky Real Estate Commission. The school shall also be currently in good standing with both the Kentucky Commission on Proprietary Education or other regulatory bodies that exercise jurisdiction over accreditation and approval and the commission; or (b) A National Association of Realtors recognized program which has been reviewed by the Kentucky Real Estate Commission and deemed an approved real estate school; (8) "Accredited institution" means a college or university accredited by appropriately recognized educational associations or chartered and licensed in Kentucky that grants credits toward a program for either an associate, baccalaureate, graduate, or professional degree; (9) "Property management" means the overall management of real property for others for a fee, compensation, or other valuable consideration, and may include the marketing of property, the leasing of property, collecting rental payments on the property, payment of notes, mortgages, and other debts on the property, coordinating maintenance for the property, remitting funds and accounting statements to the owner, and other activities that the commission may determine by administrative regulation; (10) "Broker" means any person who is licensed under KRS 324.046(1) and performs acts of real estate brokerage; (11) "Designated manager" means a licensed sales associate or broker who manages a main or branch office for the principal broker, at the principal broker's direction, and has managing authority over the activities of the sales associates at that office; (12) "Regular employee" means an employee who works for an employer, whose total compensation is subject to withholding of federal and state taxes and FICA payments, and who receives from the employer a fixed salary governed by federal wage guidelines that is not affected by specific real estate transactions; (13) "Referral fee" means consideration of any kind paid or demanded for the referral of a potential or actual buyer, seller, lessor, or lessee of real estate; (14) "Designated agency" means a form of agency relationship that exists when a principal broker, in accordance with KRS 324.121, identifies different licensees in the same real estate brokerage firm to separately represent more than one (1) party in the same real estate transaction; (15) "Affiliation" means the relationship agreed upon between a licensee and a principal broker and reported to the commission, where the licensee places his or her license with the principal broker for supervision of the licensee's real estate brokerage activity; (16) "Canceled" means the status of a license when a licensee fails to renew a license, writes the commission a check for fees that is not honored, fails to re-affiliate with a principal broker, or fails to complete requirements for continuing or post-license education; (17) "Suspended" means the status of a license when disciplinary action has been ordered against a licensee that prohibits the brokerage of real estate for a specific period of time; (18) "Revoked" means the status of a license when disciplinary action has been ordered that removes the licensee's legal authority to broker real estate for a minimum of five (5) years; and (19) "Post-license education" means the forty-eight (48) hours of commission-approved education required within two (2) years of receiving or activating an initial sales associate license. Effective: June 29, 2023 History: Amended 2023 Ky. Acts ch. 84, sec. 1, effective June 29, 2023. -- Amended 2015 Ky. Acts ch. 97, sec. 1, effective January 1, 2016. -- Amended 2012 Ky. Acts ch. 76, sec. 25, effective July 12, 2012. -- Amended 2009 Ky. Acts ch. 58, sec. 13, effective June 25, 2009. -- Amended 2000 Ky. Acts ch. 488, sec. 3, effective July 14, 2000. -- Amended 1998 Ky. Acts ch. 313, sec. 2, effective July 15, 1998. -- Amended 1992 Ky. Acts ch. 448, sec. 2, effective July 14, 1992. -- Amended 1986 Ky. Acts ch. 345, sec. 1, effective July 15, 1986. -- Amended 1984 Ky. Acts ch. 352, sec. 1, effective July 13, 1984. -- Amended 1982 Ky. Acts ch. 196, sec. 9, effective July 15, 1982. -- Amended 1978 Ky. Acts ch. 172, sec. 1, effective June 17, 1978. -- Amended 1976 Ky. Acts ch. 100, sec. 7. -- Amended 1972 Ky. Acts ch. 264, sec. 1. - - Repealed in part 1952 Ky. Acts ch. 4, sec. 1. -- Amended 1942 Ky. Acts ch. 184, secs. 9 and 12A. -- Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. sec. 3990e-2.

Notes of Decisions
Cited in 11 cases (1 in the last 5 years), 1948–2021 · leading case: Ledford v. Faulkner, 661 S.W.2d 475 (Ky. 1983).
Sort: Relevance Newest Treatment
Ledford v. Faulkner, 661 S.W.2d 475 (Ky. 1983). · cites it 3× “However, as a general rule, the sale of real property or any interest therein by one person for another may come within the definition provided in KRS 324.010. The occupation of real estate broker affects public welfare and may be regulated by a valid exercise of state police…”
Kirkpatrick v. Lawrence, 908 S.W.2d 125 (Ky. Ct. App. 1995). · cites it 3× “…in mineral rights consists of an interest in the rights that are the subject of the purchase, sale, or lease....” KRS 324.010.”
Lockridge v. Hale, 764 S.W.2d 84 (Ky. Ct. App. 1989). · cites it 2× “The Kentucky Supreme Court analyzed the apparent conflict between the “one act” provision of KRS 324.010(2) and the “whole or partial vocation” provision of KRS 324.”
Kentucky Real Est. Comm'n v. Milgrom, 197 S.W.3d 552 (Ky. Ct. App. 2005). · cites it 5× “010(1), we must presume that the Legislature was aware of the definition of “broker” (now “real estate brokerage”) in KRS 324.010 when they amended KRS 324.020 in 1982.”
Adkins v. Cornett, 684 S.W.2d 853 (Ky. Ct. App. 1985). “The short and simple response to this argument is that Adkins is not a real estate broker within the definition of KRS 324.010(l)(a) and thus not excluded from the protection of the above-mentioned equitable doctrines.”
Hunt v. Dark Hill Enter., Inc., 867 S.W.2d 497 (Ky. Ct. App. 1993). · cites it 6× “In addition, KRS 324.010(2) provided, in part: One act for a fee, commission, compensation or other valuable consideration of .”
Palfreeman v. Broderick, 208 S.W.2d 736 (Ky. Ct. App. 1948). “” See KRS 324.010. We believe that Broderick was within the exception provided by the law, since all the evidence seems to indicate that he was only a casual operator and since no evidence indicates that he ever made a sale of any real estate before this occasion.”
Dmitriy Zilberman v. H.W. Lochner, Inc. (Ky. Ct. App. 2021). “court err in determining that Lochner had pled the affirmative defense of qualified official immunity with the requisite specificity to be entitled to immunity from suit or was said defense waived by its failure to do so? 2) If said affirmative defense was waived, can a…”
Mike Lairsen v. Jim Figuerado, 466 F. App'x 480 (6th Cir. 2012). “Ky.Rev.Stat. Ann. § 324.010(1). On its face, there is no aspect of the proposed purchase of STG shares that would qualify under this definition.”
Comm'r, 2009 T.C. Summary Opinion 29 (1970). “17-101(l) (LexisNexis 2004 & Supp. 2008) (defining "Provide real estate brokerage services"); Wis.”
Edmonds v. Fehler & Feinauer Constr. Co., 149 F. Supp. 396 (E.D. Ky. 1957). “020 shall not apply to: “(1) Any person who as owner or lessor performs any of the acts defined in KRS 324.010 with reference to property owned or leased by him or to his regular employes, with respect to the property so owned or leased, where such acts are performed in the…”
— Ky. Rev. Stat. § 324.010(1) — 2 cases
Kentucky Real Est. Comm'n v. Milgrom, 197 S.W.3d 552 (Ky. Ct. App. 2005). “010(1), we must presume that the Legislature was aware of the definition of “broker” (now “real estate brokerage”) in KRS 324.010 when they amended KRS 324.020 in 1982.”
Mike Lairsen v. Jim Figuerado, 466 F. App'x 480 (6th Cir. 2012). “Ky.Rev.Stat. Ann. § 324.010(1). On its face, there is no aspect of the proposed purchase of STG shares that would qualify under this definition.”
— Ky. Rev. Stat. § 324.010(10) — 1 case
Kentucky Real Est. Comm'n v. Milgrom, 197 S.W.3d 552 (Ky. Ct. App. 2005). “010(1), we must presume that the Legislature was aware of the definition of “broker” (now “real estate brokerage”) in KRS 324.010 when they amended KRS 324.020 in 1982.”
— Ky. Rev. Stat. § 324.010(2) — 3 cases
Ledford v. Faulkner, 661 S.W.2d 475 (Ky. 1983). “However, as a general rule, the sale of real property or any interest therein by one person for another may come within the definition provided in KRS 324.010. The occupation of real estate broker affects public welfare and may be regulated by a valid exercise of state police…”
Lockridge v. Hale, 764 S.W.2d 84 (Ky. Ct. App. 1989). “The Kentucky Supreme Court analyzed the apparent conflict between the “one act” provision of KRS 324.010(2) and the “whole or partial vocation” provision of KRS 324.”
Hunt v. Dark Hill Enter., Inc., 867 S.W.2d 497 (Ky. Ct. App. 1993). “In addition, KRS 324.010(2) provided, in part: One act for a fee, commission, compensation or other valuable consideration of .”
— Ky. Rev. Stat. § 324.010(a) — 1 case
Kirkpatrick v. Lawrence, 908 S.W.2d 125 (Ky. Ct. App. 1995). “…in mineral rights consists of an interest in the rights that are the subject of the purchase, sale, or lease....” KRS 324.010.”
— Ky. Rev. Stat. § 324.010(d) — 1 case
Kirkpatrick v. Lawrence, 908 S.W.2d 125 (Ky. Ct. App. 1995). “…in mineral rights consists of an interest in the rights that are the subject of the purchase, sale, or lease....” KRS 324.010.”
— Ky. Rev. Stat. § 324.010(l)(a) — 4 cases
Ledford v. Faulkner, 661 S.W.2d 475 (Ky. 1983). “However, as a general rule, the sale of real property or any interest therein by one person for another may come within the definition provided in KRS 324.010. The occupation of real estate broker affects public welfare and may be regulated by a valid exercise of state police…”
Lockridge v. Hale, 764 S.W.2d 84 (Ky. Ct. App. 1989). “The Kentucky Supreme Court analyzed the apparent conflict between the “one act” provision of KRS 324.010(2) and the “whole or partial vocation” provision of KRS 324.”
Adkins v. Cornett, 684 S.W.2d 853 (Ky. Ct. App. 1985). “The short and simple response to this argument is that Adkins is not a real estate broker within the definition of KRS 324.010(l)(a) and thus not excluded from the protection of the above-mentioned equitable doctrines.”
Hunt v. Dark Hill Enter., Inc., 867 S.W.2d 497 (Ky. Ct. App. 1993). “In addition, KRS 324.010(2) provided, in part: One act for a fee, commission, compensation or other valuable consideration of .”
Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.