Delaware License Law
What is a 'real estate team' under Delaware license law?
AAn independent real estate brokerage operating under a team name
BA group of licensees within a single brokerage working together under a lead licensee, with all members licensed under the same supervising broker — not an independent entity✓ Correct
CA partnership of two or more brokers sharing office space and expenses
DA state-certified training program for new real estate agents
Explanation
A real estate team consists of two or more licensees working together within a single brokerage under a lead licensee (team leader). All team members must hold active Delaware licenses and be affiliated with the same supervising broker.
People Also Study
Related Delaware Questions
- Under Delaware law, what is required for a licensee to advertise 'independently' or as 'team leader' without a brokerage name?Delaware License Law
- What does Delaware require regarding the supervision of affiliated licensees by a managing broker?Delaware License Law
- A Delaware real estate salesperson who wishes to become a broker must have at least how many years of active licensee experience?Delaware License Law
- Under Delaware law, if a licensee changes their employing broker, which action must occur?Delaware License Law
- Dual agency in Delaware is:Agency
- A seller's agent in Delaware owes which of the following duties to the buyer?Agency
- Under Delaware license law, a broker who discovers that an affiliated salesperson has committed fraud on a client must:Delaware License Law
- In Delaware, a 'reciprocal license' allows a licensee from another state to:Delaware License Law
Key Terms to Know
Agency
A legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
Net Operating Income (NOI)The annual income generated by an income-producing property after subtracting operating expenses, but before debt service.
State-Specific Concepts
License Law
Practice More Delaware Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Delaware Quiz →