Maria obtained her Colorado real estate license six months ago and is currently working under Employing Broker Tom. A client asks Maria what her license designation is. Which of the following correctly describes Maria's license status?
Correct Answer
D) Maria holds a broker associate license and must work under Tom until she meets experience requirements.
Colorado does not issue salesperson licenses. Maria, as a newly licensed real estate professional, holds a Broker Associate license under C.R.S. § 12-10-201 et seq. She must work under an Employing Broker until she satisfies the experience and education requirements to become an Independent Broker.
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Related Topics & Key Terms
Key Terms:
Related Concepts
In real estate, a client is someone to whom the agent owes fiduciary duties through an agency relationship, while a customer is a third party to whom the agent owes only honesty and fair dealing.
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.
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