North Carolina License LawIntermediateNorth Carolina Exam
Under NC license law, which of the following activities requires a real estate license?
ASelling your own home
BActing as an attorney-in-fact under a power of attorney for a family member's property sale
CNegotiating leases on behalf of others for compensationCorrect
DAuctioning personal property
Why Negotiating leases on behalf of others for compensation Is Correct
Answer C: Negotiating leases on behalf of others for compensation
Negotiating leases on behalf of others for compensation is brokerage activity requiring a real estate license in North Carolina.
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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.
Short SaleA sale of real property where the sale proceeds are less than the outstanding mortgage balance, requiring lender approval.
Eminent DomainThe power of government to take private property for public use, with the requirement to pay the owner just compensation.
State-Specific Concepts
License Law
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