Delaware License LawIntermediateDelaware Exam
Under Delaware license law, which activity does NOT require a real estate license?
ASelling or listing property for another for a fee
BLeasing commercial property for another for compensation
CA property owner managing their own propertiesCorrect
DAuctioning real estate for a fee
Why A property owner managing their own properties Is Correct
Answer C: A property owner managing their own properties
Delaware property owners who personally manage their own investment properties are exempt from the licensing requirement. Acting on behalf of another for compensation requires a license.
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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.
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.
Eminent DomainThe power of government to take private property for public use, with the requirement to pay the owner just compensation.
State-Specific Concepts
License Law
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