Arizona License LawIntermediateArizona Exam
Which of the following activities would require a real estate license in Arizona?
AAn attorney handling a real estate transaction as part of legal representation
BA property owner selling their own home
CA person listing a neighbor's home for sale for a feeCorrect
DA trustee selling trust property pursuant to a court order
Why A person listing a neighbor's home for sale for a fee Is Correct
Answer C: A person listing a neighbor's home for sale for a fee
Listing or selling another person's real estate for compensation requires an Arizona real estate license. Attorneys, property owners selling their own property, and trustees acting under court order are exempt.
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Key Terms to Know
Listing Agreement
A contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
Deed of TrustA security instrument used in many states instead of a mortgage, involving three parties: borrower (trustor), lender (beneficiary), and a neutral trustee.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
EasementA non-possessory right to use another person's land for a specific purpose.
State-Specific Concepts
License Law
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