A Vermont licensed broker, Robert, is also a licensed attorney. He assists a client in negotiating and closing a real estate transaction, providing both legal advice and real estate brokerage services. He does not hold an active real estate license at the time, having let it lapse, but argues that his attorney's license exempts him from Vermont's real estate licensing requirements. Under Vermont law, is Robert correct?
Correct Answer
C) No, because Vermont's real estate licensing statute does not provide a blanket attorney exemption for brokerage activities; Robert must hold a valid real estate license to perform brokerage services.
Under 26 V.S.A. Chapter 41, Vermont's real estate licensing requirements apply to persons who engage in brokerage activities — negotiating sales, listing properties, and earning compensation for such services. Vermont's statute does not contain a blanket exemption for attorneys performing brokerage functions. An attorney may provide legal services incident to a transaction without a real estate license, but acting as a broker — negotiating deals and earning brokerage compensation — requires a valid Vermont real estate license. Robert's lapsed license means he is not authorized to perform brokerage services.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Continuing education (CE) refers to the ongoing coursework that licensed real estate professionals must complete during each renewal cycle to maintain an active license. CE ensures agents stay current with changes in laws, regulations, and industry practices.
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.
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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- → For the Wyoming salesperson state portion, a licensee asks how long Wyoming renewal periods are. Which statement is correct?
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