Real Estate Brokerage Flashcards
How many hours of post-license education are brokers required to receive?
45 hours
___ is defined as the business of bringing people together
Brokerage
Who handles daily details of running a business and sets effective policies for every aspect of the brokerage operation?
Managing broker
What real estate license category was created to increase accountability and awareness of the statutory duties of supervision?
Managing broker
What type of real estate license are self sponsored licensees required to have?
Managing broker
Self sponsored licensees must have a managing broker license or obtain one within ___ days
90
Person who is legally appointed by a sponsoring broker to oversee the office and register sponsored licensees with the department
Designated managing broker
Person appointed by a sponsoring broker who is responsible for the supervision of all activities performed by affiliated licensees
Designated managing broker
The designated managing broker must acquire a managing broker license within ___ days of being named designated
90
Person appointed by sponsoring broker who is responsible for record keeping and maintaining employment agreements with sponsored licensees
designated managing broker
Person appointed by sponsoring broker to handle all earnest monies, escrows, and contract negotiations
Designated managing broker
Who sponsors licensed managing brokers, brokers, and residential leasing agents?
Sponsoring broker
Sponsoring broker entities must be ___.
Licensed
A licensee who is self sponsored would be considered as a(n) ___.
sponsoring broker
___ may delegate authority and tasks to licensees
sponsoring broker
