Westside Realty Corp. is a Nevada corporation that operates a real estate brokerage. The corporation itself must be licensed, and it must designate a qualifying broker. Under Nevada law, which of the following individuals is qualified to serve as the designated qualifying broker for Westside Realty Corp.?
Correct Answer
D) A Nevada-licensed broker or broker-salesperson who meets the requirements to serve as a qualifying broker under NRS Chapter 645
Under NRS 645.310 and related provisions, a real estate corporation operating a brokerage must designate a qualifying broker who holds either a Nevada broker license or a broker-salesperson license. Both license categories are eligible to serve in this role, provided the individual meets the applicable requirements under NRS Chapter 645. This is a key function of the broker-salesperson category — such licensees can serve as qualifying brokers for corporate entities.
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Related Topics & Key Terms
Key Terms:
Related Concepts
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.
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.
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