Real Estate license - categories

Question 1

Three real estate categories

Answer 1

1) Sales associate
2) Broker associate
3) Broker

Question 2

Sales associate

Answer 2

introductory level; employed by and work under the direction and control of a broker or an owner-developer

Question 3

Broker associate

Answer 3

Holds a broker’s license but chooses to register and work in real estate under the direction of another broker

Question 4

Broker

Answer 4

license requires additional education, experience, and passing the broker license exam

Question 5

Owner-developer

Answer 5

Unlicensed entity that sells, exchanges, or leases its own property

Question 6

Who can owner-developers hire to sell their properties?

Answer 6

Unlicensed salespeople and licensed associates

Question 7

Do sales staff need to hold a real estate license in order to get paid commission or on a transactional basis?

Answer 7

Yes

Question 8

How can unlicensed salespeople be paid?

Answer 8

Salary basis only