What is the yearly fee added to the license fee for real estate brokers related to the recovery fund?

The yearly fee added to the license fee for real estate brokers related to the recovery fund is $3.50. This fee is essential as it contributes to the Real Estate Recovery Fund, which is set up to provide financial protection to consumers who may suffer financial losses due to unethical actions by real estate licensees. This fund helps ensure that there is a safety net for consumers, promoting trust in real estate transactions and accountability among brokers and agents. While other options may represent different amounts, $3.50 is the specific fee established for this purpose, making it crucial for compliance with state regulations.