New York License Law
Under New York law, which of the following individuals is NOT required to hold a real estate license?
AA person who negotiates leases for commercial property on behalf of property owners for compensation
BAn attorney who, as an incident to the practice of law, negotiates a real estate transaction for a client✓ Correct
CA person who holds an open house for a licensed broker
DA property manager who collects rents on behalf of multiple property owners for a fee
Explanation
New York law exempts attorneys from the licensing requirement when real estate activities are performed as an incident to the practice of law. Property managers who collect rent for others, persons who negotiate leases for others, and individuals who hold open houses on behalf of brokers generally require a license.
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