When a Wyoming broker's license is revoked or the broker closes their business, the associated agents must:
Correct Answer
B) Transfer to a new broker or go inactive
Under Wyoming real estate law, when a broker closes their business or loses their license, all associated salespersons and associate brokers must either transfer their license to a new qualifying broker or place their license on inactive status. They may not practice independently or continue working without a supervising broker.
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Related Topics & Key Terms
Related Topics:
Key Terms:
Related Concepts
The fiduciary obligations owed by a listing agent to the seller, including marketing the property, presenting all offers, and protecting the seller's confidential information.
A practice where the agent or brokerage represents only one party in a transaction — either the buyer or the seller, but never both.
A relationship where a listing broker authorizes other brokers to act as agents of the seller, extending the seller's agency relationship to cooperating brokers.
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