Maryland License Law
Under Maryland law, a real estate brokerage must have a 'principal broker' who is responsible for:
AOnly completing annual continuing education
BThe overall management and legal compliance of the brokerage and supervising all affiliated licensees✓ Correct
COnly listing properties
DFiling all transactions with MREC
Explanation
The principal broker in Maryland has overall management responsibility and is legally accountable for the brokerage's compliance with Maryland real estate law and the activities of affiliated licensees.
Related Maryland Maryland License Law Questions
- Which state agency regulates real estate licenses in Maryland?
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- How many hours of pre-license education are required to sit for the Maryland real estate salesperson exam?
- What is the minimum passing score on the Maryland real estate licensing exam?
- A Maryland salesperson who wishes to become a broker must have been actively licensed as a salesperson for at least:
- Under Maryland law, what is the penalty for practicing real estate without a license?
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