Oregon License Law
Under Oregon law, the term 'principal broker' means a licensee who:
AEarns more than $100,000 per year in commissions
BHas held a broker license for at least 3 years and has met additional education and experience requirements✓ Correct
CManages a real estate office with 10 or more brokers
DHas been licensed in Oregon for 10 or more years
Explanation
An Oregon principal broker is someone who has held an active Oregon broker license for at least 3 years, completed the required 40-hour principal broker course, passed the principal broker exam, and applied for the license. Only principal brokers can independently operate a real estate business and supervise other brokers.
Related Oregon Oregon License Law Questions
- An Oregon principal broker license requires the applicant to have held an active broker license for at least how long?
- Under ORS Chapter 696, Oregon real estate brokers are required to provide a written agency disclosure at what point in a transaction?
- An Oregon principal broker wants to operate a real estate business under a name other than their own. What must they do?
- Under Oregon license law, which of the following must a real estate broker include in all advertising?
- Which of the following is a prohibited act under Oregon's real estate license law?
- The Oregon Real Estate Agency may issue a cease-and-desist order when:
- Which state agency licenses and regulates real estate professionals in Oregon?
- An Oregon licensee who discovers their principal broker is converting client trust funds to personal use should:
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