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Practice Of Real EstateLicense LawMEDIUM

Marcus holds a Broker-Salesperson license in Wyoming. His supervising broker, Janet, has retired and closed her brokerage. Marcus wants to continue practicing real estate immediately. Under Wyoming law, which of the following statements best describes Marcus's situation?

Correct Answer

B) Marcus must affiliate with a new supervising broker to continue practicing, as a Broker-Salesperson license requires supervision by a licensed broker.

Under Wyoming's three-tier licensing structure, a Broker-Salesperson licensee has met broker-level education and experience requirements but is not authorized to operate independently. A Broker-Salesperson must work under the supervision of a licensed broker. When Marcus's supervising broker retires, he must affiliate with a new supervising broker before he can continue to practice real estate. He cannot practice independently on a Broker-Salesperson license.

Answer Options
A
Marcus may continue practicing independently because his Broker-Salesperson license grants him full brokerage authority.
B
Marcus must affiliate with a new supervising broker to continue practicing, as a Broker-Salesperson license requires supervision by a licensed broker.
C
Marcus must immediately apply for a salesperson license downgrade to remain active under any brokerage.
D
Marcus may operate independently for up to 90 days while he searches for a new supervising broker.

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Related Topics & Key Terms

Key Terms:

broker_salespersonsupervision_requirementthree_tier_licensingwyoming_unique

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