Property Management
In Hawaii, a property manager who manages properties for others and receives compensation must hold a:
AProperty management certification only
BReal estate broker's license
CReal estate salesperson's license or higher✓ Correct
DNo license is required for property management
Explanation
In Hawaii, managing property for others for compensation is a real estate activity requiring a minimum of a real estate salesperson's license. Property managers must be licensed under a principal broker.
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Key Terms to Know
Fiduciary Duty
The highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
Seller's Agent (Listing Agent)A real estate licensee who represents the seller's interests, markets the property, and owes fiduciary duties to the seller.
Short SaleA sale of real property where the sale proceeds are less than the outstanding mortgage balance, requiring lender approval.
Buyer's AgentA real estate licensee who represents the buyer's interests in a transaction, owing fiduciary duties to the buyer.
Math Concepts
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