Arizona License LawIntermediateArizona Exam
Under Arizona law, a real estate broker may pay a referral fee to:
AAny person who refers a buyer or seller, licensed or not
BAnother licensed real estate broker in Arizona or another stateCorrect
CThe buyer or seller directly as a rebate
DAn unlicensed assistant who identified a potential client
Why Another licensed real estate broker in Arizona or another state Is Correct
Answer B: Another licensed real estate broker in Arizona or another state
Arizona law permits brokers to pay referral fees to other licensed real estate brokers (in Arizona or other states). Referral fees to unlicensed persons for real estate activities are prohibited.
Key Arizona License Law Terms in This Question
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Key Terms to Know
Lien
A financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
EasementA non-possessory right to use another person's land for a specific purpose.
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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