2 License Requirements Flashcards
Who does not need a license
- Any person who purchases property or a business opportunity for their own ownership
- For a group of which he or she is a member
- Any authorize attorney As long as it is without compensation
- An attorney at law in the performance of his legal duties
- Court appointee such as receiver in bankruptcy, trustee, guardian, etc.
- A person who owns or manages a self-service storage facility
- Clerical personel in the real estate office who do not engage in any licensable activities
- Government employees involved in acquisition of property for right-of-way, eminent domain, or threat of eminent domain
- Any person providing referrals to licensees who is not involved in related real estate brokerage services
- Certified public accountants if they do not promote The purchase of a specific real property interest
- Title or escrow companies, agents, attorneys or financial institutions acting as escrow agents if …
- Investment counselors if …
- Common interest community managers if …
Accordibg to RCW 18.85.011, Who needs a real estate license
- Listing, selling any real property interest
- Negotiating the purchase of real estate
- Selling a mobile home in conjunction with the purchase, sale of the land upon which the mobile home will be located
- Advertising oneself out to the public that one is engaged in real estate brokerage services
- Advising or consulting buyers, sellers or tenants in connection with a real estate transaction
- Issuing a broker’s price opinion
- Collecting funds in connection with the negotiating, selling, purchasing of real estate or any real property interests
- Performing property management services
Unlicensed assistant guidelines
- Be a greeter at open house and distribute pre-printed promotional literature and provide security
- Act as a Courier in delivering documents, picking up keys or similar services
- Perform clerical duties for licensees
- Submit forms and changes to multiple listing services
- Obtain status report on the loan progress and credit reports
- Follow up on the loan commitments after a contract has been negotiated
According to RCW 18.85.011(2), A broker is defined as
A natural person acting on behalf of real estate firm to perform real estate brokerage services under the supervision of a designated broker or managing broker
According to RCW 18.85.011(14), a managing broker is
A natural person acting on behalf of a real estate firm to perform real estate brokerage services under the supervision of the designated broker, and who may supervise other brokers or managing brokers licensed to the firm
According to RCW 18.85.001(10), A designated broker is
- A person who owns a sole proprietorship real estate firm
- A person with a controlling interest in the firm who is designated by legally-recognized Business entity such as a corporation, Limited liability company, limited liability partnership or partnership real estate firm to act as a designated broker on behalf of the real estate firm, and who’s managing brokers license receives an endorsement from the department of “designated broker”
According to WAC 308–124–300, A branch manager is
The natural person who holds a managing broker’s license and has delegated authority by the designated broker to manage a single physical location of a branch office. The department shall issue an endorsement for “branch managers”.
Requirements for a broker license
- Be at least 18 years of age
- Have a high school diploma
- Complete 60-clock-hours-course in real estate fundamentals, 30-hours practice course and pass the course exam. Must be completed within two years before applying for examination and be approved by the Director
- Pay an exam fee
- Pass a licensing exam
- Pay license fee
Requirements for managing broker license
Be at least 18 years of age and have a high school diploma.
Completing 90 clock hours of approved real estate instruction in addition to other clock hours completed to satisfy requirements of Chapter 18.85 RCW.
Courses must be completed within 3 years prior to applying for the managing brokers examination.
3 years of actual experience.
Any alternate work experience must be gained within the last 7 years prior to the date of application
Managing broker license courses
Instruction courses:
- Advanced real estate law
- real estate brokerage management
- business management
All courses completed must be at least 30 clock hours in length and include a comprehensive examination.
Fingerprinting requirements and background checks
- New applicants applying for their first broker’s license
- Applicants applying for their first managing broker’s license using alternative qualifications
- Fingerprint cards and background checks are required for every active renewal every 6 years
- Application without fingerprint card is considered incomplete
- When a fingerprint card is rejected, an applicant must submit a new card within 21 calendar days of written notice to the address of record with the real estate program
- If the fingerprint card is rejected, the applicant must pay a new fee for fingerprinting and background processing
How to take broker license Examinations
Contact the testing service at least one day prior to the test date to schedule and pay for an examination.
On the day of examination, the candidate must submit to the testing service completed examination application along with any supporting documents, including evidence of completing 60 hours fundamentals course and 30 hours practices course approved by the real estate program
How to take broker or managing broker license examination who received clock hours in other jurisdiction
Submit proof of education to be substituted for the required clock hours.
Provide a completed examination application on the day of examination
Examination results are valid for
One year
