NY Real Estate Chapter 1
Article 12A - answer Real Property Law
New York Board of Real Estate - answer15 members, 13 appointed in which 5 are
brokers, Secretary of State and Executive Director of Consumer Protection Board
Broker - answer Person or business who is licensed to represent another person in a
real estate transaction with the expectation of a fee, commission, or other valuable
consideration
Associate real estate broker - answer Individual licensee who performs or assists the
broker in performing the activities requiring licensure, but who may work only under the
name and supervision of a sponsoring licensed broker.
Real Estate Salesperson - answer Individual who performs or assists the broker in
performing the activities requiring licensure, but who may work only under the name and
supervision of a sponsoring licensed broker
License: Individual Broker - answer Class 35. Conducts business under his own name.
No association with a firm.
License: Associate Broker - answer Class 30. Works under the name and supervision of
another licensed broker
License: Trade Name Broker - answer Class 37. Operates the business as a sole
proprietorship and does business using a business name, not a personal name. Reid
Zuckerman doing business as Keller Williams
License: Partnership Broker - answer Class 32. Multiple brokers can apply to conduct
business under a partnership name.
License: Corporate Broker - answer Class 31. A real estate brokerage license can be
issued in the name of a corporation as long as one officer/principal is licensed as a
borker. Salesperson can't have voting shares of stock.
LLC or Limited Liability Partnership - answer Class 49. A member or manage of an LLc
or LLP who completes the requirements for broker licensure can conduct business as a
real estate brokerage under the LLC or LLP name
Dual Licensure - answer Broker or salesperson having more than one type of license
Article 12A - answer Real Property Law
New York Board of Real Estate - answer15 members, 13 appointed in which 5 are
brokers, Secretary of State and Executive Director of Consumer Protection Board
Broker - answer Person or business who is licensed to represent another person in a
real estate transaction with the expectation of a fee, commission, or other valuable
consideration
Associate real estate broker - answer Individual licensee who performs or assists the
broker in performing the activities requiring licensure, but who may work only under the
name and supervision of a sponsoring licensed broker.
Real Estate Salesperson - answer Individual who performs or assists the broker in
performing the activities requiring licensure, but who may work only under the name and
supervision of a sponsoring licensed broker
License: Individual Broker - answer Class 35. Conducts business under his own name.
No association with a firm.
License: Associate Broker - answer Class 30. Works under the name and supervision of
another licensed broker
License: Trade Name Broker - answer Class 37. Operates the business as a sole
proprietorship and does business using a business name, not a personal name. Reid
Zuckerman doing business as Keller Williams
License: Partnership Broker - answer Class 32. Multiple brokers can apply to conduct
business under a partnership name.
License: Corporate Broker - answer Class 31. A real estate brokerage license can be
issued in the name of a corporation as long as one officer/principal is licensed as a
borker. Salesperson can't have voting shares of stock.
LLC or Limited Liability Partnership - answer Class 49. A member or manage of an LLc
or LLP who completes the requirements for broker licensure can conduct business as a
real estate brokerage under the LLC or LLP name
Dual Licensure - answer Broker or salesperson having more than one type of license
