In Arkansas, the person who holds the primary responsibility for supervising all affiliated licensees within a brokerage and who must be actively licensed is referred to as the:
Correct Answer
D) Designated broker
Under Arkansas Real Estate License Law (Ark. Code Ann. § 17-42-101 et seq.) and AREC rules, the designated broker is the individual responsible for the supervision of all affiliated agents and broker-associates operating within a brokerage firm. The designated broker must hold an active Arkansas broker license.
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Related Topics & Key Terms
Key Terms:
Related Concepts
An arrangement where a brokerage assigns separate agents within the firm to represent the buyer and seller in the same transaction, allowing each client to have dedicated representation.
A situation where a single agent or brokerage represents both the buyer and the seller in the same real estate transaction.
An agency relationship created by a clear, explicit agreement between the principal and agent, either orally or in writing.
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- → A Vermont licensee is asked about a designated agency firm appoints separate agents for buyer and seller. What is the best answer?
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