Delaware License LawIntermediateDelaware Exam
Which of the following activities would require a Delaware real estate license?
AA property owner selling their own home
BAn attorney handling a real estate closing for a client
CA person negotiating the sale of real property on behalf of another for compensationCorrect
DA property manager employed directly by an owner to manage a single property
Why A person negotiating the sale of real property on behalf of another for compensation Is Correct
Answer C: A person negotiating the sale of real property on behalf of another for compensation
Negotiating the sale of real property on behalf of another for compensation requires a Delaware real estate license. Exemptions include owners selling their own property, attorneys acting in their legal capacity, and employees directly employed by an owner.
Key Delaware 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.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
State-Specific Concepts
License Law
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