Alabama License LawIntermediateAlabama Exam
Which of the following does NOT require a real estate license in Alabama?
ASelling property for another person for compensation
BManaging rental properties for others for a fee
CAuctioning real estate as a licensed auctioneer under auction lawCorrect
DListing property for another person for compensation, in most cases
Why Auctioning real estate as a licensed auctioneer under auction law Is Correct
Answer C: Auctioning real estate as a licensed auctioneer under auction law
Licensed auctioneers selling real estate under Alabama's auction law are exempt from the real estate license requirement. All other activities involving compensation for real estate services require a license.
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Key Terms to Know
Gross Rent Multiplier (GRM)
A quick valuation metric for income properties calculated by dividing the property price by gross annual rental income.
EasementA non-possessory right to use another person's land for a specific purpose.
Eminent DomainThe power of government to take private property for public use, with the requirement to pay the owner just compensation.
Adverse PossessionA doctrine by which a person can gain legal title to another's land by openly, continuously, and adversely occupying it for a statutory period.
State-Specific Concepts
License Law
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