Chapter 2 Licensing Requirements Flashcards
What does it mean to be licensed?
A person so designated has been granted a license by the Mayor to practice an occupation or profession in the district.
Who is exempt from a real estate license?
Receivers, referees, adminstrators, executors, guardians, conservators, trustees, or other persons appointed or acting under the judgement of any court order, or attorneys at a law.
Does a US or DC government employee need a license while performing his or her official duties?
No
How does a person become a broker?
1-Qualifies as a salesperson.
2-Has been licensed as a real estate broker or salesperson in the District or elsewhere the 2 years preceding the date of the application.
What are the eligibility requirements for a real estate salesperson?
1-Is able to read and write English.
2-Is a high school graduate, or equivalent.
3-Has successfully completed a course of study prescribed by the board.
4-Has passed an examination.
5-Has not had an application for a real estate denied for reasons other than failure of a test, within one year.
6-Has not a real estate license suspended in the District or elsewhere.
7-Has not had a real estate license revoked in the District or elsewhere within 3 years prior to the date of application.
How long is the term of RE license?
2 years.
What are the continuing education requirements?
15 hours, Nine hours mandated by the board, 6 general elective courses.
When are the renewal dates for licensees?
1-Feb 28th in odd years for Brokers
2-August 31 in odd years for Salespersons
3-Feb. 28th in odd years for Property Managers