David is a licensed Broker in Washington who has been operating his own real estate business for two years, representing clients in transactions and receiving commissions. He has never affiliated with a licensed firm or a Designated Broker. Which of the following best describes David's situation under Washington law?
Correct Answer
D) David is violating Washington license law because Brokers must be affiliated with a licensed firm under a Designated Broker.
Under RCW 18.85, a licensed Broker in Washington is required to be affiliated with a licensed real estate firm under the supervision of a Designated Broker. Brokers do not have the authority to operate independently. David has been conducting real estate activities without proper affiliation, which is a violation of Washington license law and could result in disciplinary action by the DOL.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Florida brokers are required to maintain transaction records and escrow records for a minimum of five years.
A tie-in arrangement is an illegal antitrust practice in which a seller conditions the purchase of one product or service on the buyer's agreement to purchase a separate product or service.
A trust account, also called an escrow account, is a separate bank account maintained by a broker to hold funds belonging to others, such as earnest money deposits, security deposits, or other client 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?
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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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