Delaware License LawIntermediateDelaware Exam
What is 'broker of record' in a Delaware real estate company?
AThe broker with the highest sales volume in the company
BThe licensed broker designated as responsible for the brokerage's licensed activitiesCorrect
CA retired broker who provides advice to the active broker
DSimply the specific broker personally responsible for filing every transaction with the county recorder's office
Why The licensed broker designated as responsible for the brokerage's licensed activities Is Correct
Answer B: The licensed broker designated as responsible for the brokerage's licensed activities
The broker of record (or qualifying broker) is the licensed broker responsible for the real estate company's activities under Delaware law. They hold the company's real estate license, are responsible for supervising all affiliated licensees, maintaining escrow accounts, ensuring compliance with the Delaware Real Estate Code, and facing consequences for any violations within the brokerage.
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