James has held a Colorado Broker Associate license for three years and has been working under Employing Broker Sandra. James now wants to open his own brokerage and operate independently. Under Colorado law, which license must James obtain to legally operate his own real estate brokerage?
Correct Answer
C) Independent Broker license
Under C.R.S. § 12-10-201 et seq., an Independent Broker license allows a licensee to practice real estate without being affiliated with an Employing Broker. To open and operate his own brokerage independently, James must obtain an Independent Broker license after meeting the experience and education requirements set by CREC.
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Related Topics & Key Terms
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Related Concepts
Brokers in Florida have strict responsibilities for managing escrow accounts, including monthly reconciliation and proper handling of trust funds.
FREC has the authority to impose fines and other disciplinary actions on licensees who violate real estate laws and rules.
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.
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 responsible broker in Wyoming asks about a nonresident applicant provides home-state evidence. Which answer follows Wyoming law?
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