Alaska License LawIntermediateAlaska Exam
Which of the following activities requires a real estate license in Alaska?
AAn owner selling their own primary residence
BAn attorney handling a property sale as part of legal services
CA property manager collecting rents for a fee on behalf of third partiesCorrect
DA family member helping sell a relative's home without compensation, in general
Why A property manager collecting rents for a fee on behalf of third parties Is Correct
Answer C: A property manager collecting rents for a fee on behalf of third parties
In Alaska, collecting rents or managing property for compensation on behalf of another party requires a real estate license. Exceptions typically include owners managing their own property, attorneys acting in their professional capacity, and certain family members acting without compensation.
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Key Terms to Know
Agency
A legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
Right of First RefusalA contractual right giving a party the opportunity to match any offer received before the owner can accept it from a third party.
Debt-to-Income Ratio (DTI)A lender's measure of a borrower's monthly debt obligations relative to their gross monthly income, used to evaluate loan eligibility.
State-Specific Concepts
License Law
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