Alaska License LawIntermediateAlaska Exam
Which of the following actions requires a real estate license in Alaska?
AManaging your own rental properties
BSelling a property you inherited as an heir
CSoliciting listings and negotiating sales on behalf of others for compensationCorrect
DAdvising a friend on what price to list their home, under typical circumstances
Why Soliciting listings and negotiating sales on behalf of others for compensation Is Correct
Answer C: Soliciting listings and negotiating sales on behalf of others for compensation
Soliciting listings and negotiating real estate sales on behalf of others for compensation is the quintessential activity requiring a real estate license in Alaska. Acting as an agent for others in real estate transactions for pay is the core of the licensing requirement.
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Key Terms to Know
Fiduciary Duty
The highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
Gross Rent Multiplier (GRM)A quick valuation metric for income properties calculated by dividing the property price by gross annual rental income.
Comparable Sales (Comps)Recently sold properties similar in size, condition, and location used by appraisers and agents to estimate a property's market value.
Eminent DomainThe power of government to take private property for public use, with the requirement to pay the owner just compensation.
State-Specific Concepts
License Law
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