Arizona License LawIntermediateArizona Exam
Which of the following is an EXEMPT activity under Arizona's real estate license law?
ASelling a property on behalf of a neighbor for a referral fee
BA person selling their own property for their own account without compensation from a third partyCorrect
CCharging a fee to advise buyers on which homes to make offers on
DNegotiating a lease for a fee on behalf of a commercial tenant
Why A person selling their own property for their own account without compensation from a third party Is Correct
Answer B: A person selling their own property for their own account without compensation from a third party
Owners selling their own property for their own account are exempt from real estate licensing requirements in Arizona. However, once compensation is involved for selling another person's property, a license is required.
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Key Terms to Know
Right of First Refusal
A contractual right giving a party the opportunity to match any offer received before the owner can accept it from a third party.
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.
Joint TenancyCo-ownership where two or more people hold equal, undivided interests with the right of survivorship — when one owner dies, their share passes to the surviving owners.
State-Specific Concepts
License Law
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