Broker Sam has a client, a large estate trust, that owns both residential leasehold land and fee simple commercial property across Oahu. The trust's in-house property manager, Jane, who holds no real estate license, negotiates leases with commercial tenants on behalf of the trust. Under HRS Chapter 467, Jane's activities are:
Correct Answer
B) Permissible because an employee managing property for a single employer-owner is generally exempt from licensing requirements
Under HRS Chapter 467, employees who manage property exclusively for a single employer-owner are generally exempt from the real estate licensing requirement. Jane, as an in-house property manager employed directly by the trust (the property owner), falls within this exemption when she performs property management and lease negotiation activities solely on behalf of her employer. This is a recognized exemption under Hawaii license law that distinguishes employees of owners from independent licensees acting for third parties.
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Related Topics & Key Terms
Key Terms:
Related Concepts
License requirements are the mandatory qualifications—including pre-licensing education, examination, and background checks—that a person must satisfy before legally practicing real estate. These requirements are established and enforced by each state's real estate commission.
Market allocation is an illegal antitrust practice in which competing real estate brokerages agree to divide markets among themselves by geographic area, property type, or price range, thereby eliminating competition.
Price fixing is an illegal antitrust practice in which competing real estate brokerages agree to charge the same commission rates, fees, or other pricing for their services. It is a per se violation of the Sherman Antitrust Act.
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