David is a licensed Oregon Principal Broker who operates his own independent real estate office. He is also a licensed Oregon Broker in his personal capacity and sometimes represents buyers in transactions. A buyer asks David whether he is acting as a Broker or a Principal Broker in their transaction. Under Oregon law, which of the following best describes David's situation?
Correct Answer
C) David operates under his Principal Broker license in all capacities, whether managing the office or representing clients in transactions
Under ORS Chapter 696, a Principal Broker license encompasses all the activities that a Broker may perform, plus the additional authority to supervise other licensees and operate independently. A Principal Broker does not hold a separate Broker license — the Principal Broker license is the higher-tier license that authorizes all real estate activities. David operates under his Principal Broker license in all his real estate activities.
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Related Topics & Key Terms
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Related Concepts
Brokers in Florida have strict responsibilities for managing escrow accounts, including monthly reconciliation and proper handling of trust funds.
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.
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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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