DRE & LicensingIntermediateCalifornia Exam
Which of the following activities requires a California real estate license?
ASelling your own home, as required for license renewal in California
BManaging your own rental properties, consistent with Business and Professions Code licensing rules
CSoliciting listings for others for compensationCorrect
DRenting a room in your own home, under California Department of Real Estate requirements
Why Soliciting listings for others for compensation Is Correct
Answer C: Soliciting listings for others for compensation
A license is required when acting for another person for compensation in real estate transactions — including soliciting listings, selling, buying, leasing, or managing property for others.
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Key Terms to Know
Gross Rent Multiplier (GRM)
A quick valuation metric for income properties calculated by dividing the property price by gross annual rental income.
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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