Under Indiana's real estate licensing law (IC 25-34.1), certain individuals and activities are exempt from the broker licensing requirement. Which of the following persons would NOT be exempt from Indiana's broker licensing requirement?
Correct Answer
B) A property manager who manages properties owned by others and collects rent for compensation
A property manager who manages properties owned by others and collects rent for compensation is performing real estate activities for others for compensation — this is precisely the type of activity that requires a broker license under IC 25-34.1. Unlike the other options, there is no statutory exemption for paid property management of other people's properties. This person must hold an active Indiana broker license.
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Related Topics & Key Terms
Key Terms:
Related Concepts
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.
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.
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