Delaware License Law
What is Delaware's definition of 'real estate brokerage' under the Real Estate Code?
AOnly the physical office where real estate transactions are conducted
BThe business of acting as a broker — which includes any person who negotiates, sells, purchases, exchanges, or leases real property on behalf of another for compensation✓ Correct
COnly activities involving residential property — commercial is exempt
DThe management of real estate investment trusts (REITs) only
Explanation
Delaware's Real Estate Code defines real estate brokerage broadly — any person who, for compensation, negotiates, sells, purchases, exchanges, or leases real property, or who assists in doing so for another, is engaging in real estate brokerage and requires a license. The broad definition ensures that compensation-based intermediary activities trigger the licensing requirement.
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