Broker associate Linda Park has been actively practicing real estate in Colorado for three years under employing broker Robert Walsh. Linda now wants to open her own independent brokerage. Under Colorado law, which of the following conditions must Linda meet to operate as an Independent Broker?
Correct Answer
D) Linda must have completed at least two years of active experience as a broker associate and meet any additional CREC requirements
Under C.R.S. § 12-10-206 and related CREC rules, a Broker Associate who wishes to become an Independent Broker must have completed at least two years of active experience as a licensed broker associate working under an employing broker, and must satisfy any additional CREC requirements (such as education). After meeting these requirements, Linda may apply to the CREC to upgrade her license to Independent Broker status, allowing her to operate without supervision and open her own brokerage.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A group boycott is an illegal antitrust practice in which two or more competing real estate businesses agree to refuse to work with a specific person, company, or entity in order to harm that party's ability to compete.
In real estate, the distinction between an independent contractor and an employee determines tax treatment, liability, and the level of control a broker may exercise over the agent's daily activities. Most real estate agents operate as independent contractors.
Florida real estate licenses must be renewed biennially, and sales associates have specific post-license education requirements for their first renewal.
More Practice Of Real Estate Questions
In Wyoming real estate practice, an associate broker or salesperson is not associated with a responsible broker at renewal. What should the licensee remember?
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A Wyoming licensee is reviewing an out-of-state salesperson applicant prepares for testing. What is the best answer?
In Wyoming real estate practice, a salesperson applicant age is reviewed. What should the licensee remember?
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