South Dakota License Law
Which activity does NOT require a real estate license in South Dakota?
ANegotiating the sale of commercial real estate for a fee
BManaging another person's rental properties for compensation
CSelling your own property without an agent✓ Correct
DListing properties in the MLS on behalf of sellers for a fee
Explanation
Property owners may sell their own real property without a license. License requirements apply when acting on behalf of others for compensation.
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Key Terms to Know
Listing Agreement
A contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
Gross Rent Multiplier (GRM)A quick valuation metric for income properties calculated by dividing the property price by gross annual rental income.
EasementA non-possessory right to use another person's land for a specific purpose.
Joint TenancyCo-ownership where two or more people hold equal, undivided interests with the right of survivorship — when one owner dies, their share passes to the surviving owners.
State-Specific Concepts
License Law
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