Makoa holds a Hawaii real estate broker's license and operates his own brokerage. He also holds a separate Hawaii salesperson license that he obtained years ago and never surrendered. He now wishes to work as a salesperson under another broker to earn referral fees. Under HRS Chapter 467, which of the following is correct regarding Makoa's ability to hold both licenses simultaneously?
Correct Answer
A) Makoa may hold both licenses, but the salesperson license is automatically inactive while the broker license is active.
Under HRS Chapter 467 and HAR Title 16, Chapter 99, a person who holds both a broker's license and a salesperson's license in Hawaii may not activate both simultaneously. When the broker's license is active, the salesperson license is considered inactive. A broker operating their own brokerage cannot simultaneously function as a salesperson affiliated with another broker.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A tie-in arrangement is an illegal antitrust practice in which a seller conditions the purchase of one product or service on the buyer's agreement to purchase a separate product or service.
A trust account, also called an escrow account, is a separate bank account maintained by a broker to hold funds belonging to others, such as earnest money deposits, security deposits, or other client funds.
Advertising regulations govern how real estate licensees may market properties and services, requiring truthful, non-deceptive advertising that includes proper identification of the brokerage.
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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In Wyoming real estate practice, a salesperson applicant age is reviewed. What should the licensee remember?
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