Carlos is a licensed Rhode Island salesperson who wants to operate his own independent real estate office and collect commissions directly from clients. Under Rhode Island law, what must Carlos do before he can legally operate in this manner?
Correct Answer
A) Carlos must obtain a Rhode Island broker's license and then establish his own brokerage
Under R.I. Gen. Laws § 5-20.5, only a licensed real estate broker may operate an independent real estate brokerage, collect commissions directly from clients, and supervise salespersons. A salesperson license does not authorize independent operation. Carlos must meet Rhode Island's broker licensing requirements — including experience and education — and obtain a broker's license before opening his own office.
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Related Topics & Key Terms
Key Terms:
Related Concepts
The National Do Not Call Registry is a federal program administered by the FTC that allows consumers to opt out of receiving unsolicited telemarketing calls, including calls from real estate agents soliciting business.
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.
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?
In Wyoming real estate practice, a first-time salesperson applicant completes coursework. What should the licensee remember?
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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