Tom holds an active Idaho salesperson license affiliated with Brokerage A. He decides to leave Brokerage A and join Brokerage B. Under Idaho law, which of the following correctly describes the steps Tom must take to transfer his license to Brokerage B?
Correct Answer
D) Tom's license must be released by the designated broker at Brokerage A and then affiliated with the designated broker at Brokerage B through IREC before he may practice at Brokerage B.
Under Idaho Code § 54-2034, a salesperson's license is held under the supervision of a designated broker. To transfer, the salesperson's license must be formally released by the current designated broker and re-affiliated with the new designated broker through IREC. Tom may not practice at Brokerage B until this process is complete and his license is officially affiliated with Brokerage B's designated broker.
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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?
A responsible broker in Wyoming asks about a nonresident applicant provides home-state evidence. Which answer follows Wyoming law?
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