Carol is a licensed Tennessee Broker who wants to open her own real estate office and hire two Affiliate Brokers to work under her. What must Carol do before she can legally open her office and supervise the Affiliate Brokers?
Correct Answer
B) Obtain the Broker-in-Charge designation from TREC before opening the office
Under Tennessee law and TREC rules, a Broker who wishes to supervise Affiliate Brokers or operate a real estate firm must first obtain the Broker-in-Charge (BIC) designation from TREC. This is a separate requirement from holding a Broker license. Without the BIC designation, Carol may not legally supervise other licensees or operate a firm.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Advertising regulations govern how real estate licensees may market properties and services, requiring truthful, non-deceptive advertising that includes proper identification of the brokerage.
Antitrust violations in real estate occur when competing brokerages or agents engage in practices that restrain trade, reduce competition, or harm consumers through collusion. These violations are governed by the Sherman Antitrust Act and can result in severe penalties.
Broker supervision is the legal obligation of a designated or managing broker to oversee and be accountable for the real estate activities of all salespersons and associate brokers operating under their license.
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