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Practice Of Real EstateLicense_lawMEDIUM

Michael is a licensed Washington broker who has been working at Sunrise Realty for three years. He decides to move to Sunset Properties. Under RCW Chapter 18.85, which of the following correctly describes the procedure for transferring his license to the new firm?

Correct Answer

C) The new Designated Broker at Sunset Properties must submit a transfer request to the DOL, and Michael's license becomes inactive until the transfer is complete

Under RCW 18.85, when a broker transfers to a new firm, the new Designated Broker is responsible for submitting the license transfer request to the DOL. During the period between leaving the old firm and the completion of the transfer to the new firm, the broker's license is on inactive status and the broker may not engage in real estate activity. The DOL processes the transfer and the license becomes active under the new Designated Broker once approved.

Answer Options
A
Michael notifies the DOL directly and his license automatically transfers to Sunset Properties upon notification
B
Michael's current Designated Broker at Sunrise Realty must initiate the transfer by contacting the DOL
C
The new Designated Broker at Sunset Properties must submit a transfer request to the DOL, and Michael's license becomes inactive until the transfer is complete
D
Michael must retake the broker examination before transferring to a new firm if more than two years have passed since his original exam

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Related Topics & Key Terms

Key Terms:

license_transferdesignated_brokerinactive_statusfirm_changercw_18_85

Related Concepts

Commingling is the illegal act of mixing client trust funds with a broker's personal or business operating funds; conversion is the misappropriation of those funds.

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.

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