Real estate superior school |112 Questions With Complete Solutions.

if you get compensation you need ______ - a license Forms of compensation - - gift card - money - free rent -ipad -concert tickets -etc. What are activies that require you to have a license - (LLBEANS) List Lease Buy Exchange Auction Negotiate Sell What activies exempt you from needing a license - (STAPLES) Self Trustor Apprasier Power of attorney Lawyer Executor Salaried employees (W2)Practicing real esate without a license is what - Felony Salary is an exemption from ______ - compensation Types of licenses - Provisional Broker Non-provisional Broker in charge Limited non resident commercial license Provisional - entry level license Must be supervised by BIC (broker in charge) can only be under one BIC at a time Must take 90 hours of post edu after is must be completed 3 years after on your anniversary date Non provisional - licensee who has completed all post licensing coures is also called a full broker can be under more than one BIC as long as all BIC agree What needs to be done June 10th of every year - 8 hours of continuing education 4 hours of general update , 4 hours of electives Provisional brokers are exempt from the first june 10th) what needs to be done June 30th of every year - Renew your license and pay 45$ fee Not doing any of these things will make your license inactive - Not being affiliation with a BIC Not being current on your MCE( mandatory continuing edu) Not being current on your post licensing eduNot doing what will make your license expired - NOT PAYING YOUR 45$ fee to renew your license Limited non-resident Commerical Broker's License - limited to commercial transactions (lease or purchases)