Agency
In Kentucky, a broker who operates a team may not:
AUse a team name in advertising
BCompensate team members from the brokerage
CAllow a team member to advertise as an independent broker✓ Correct
DHave licensed and unlicensed team members
Explanation
A team member who is a sales associate cannot advertise as or hold themselves out as an independent broker. All team members must operate under the supervision of the principal broker.
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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.
Fiduciary DutyThe highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
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