Utah License Law
The principal broker is ultimately responsible in Utah for:
AOnly their own real estate transactions
BAll licensed activities conducted through their brokerage✓ Correct
COnly the transactions personally supervised
DThe licensees at other brokerages in the same MLS
Explanation
The principal broker bears ultimate responsibility for all licensed real estate activities conducted through their brokerage, including the conduct of affiliated sales agents and associate brokers. This responsibility is why the principal broker license requires additional education and experience.
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Key Terms to Know
Dual Agency
A situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
AmortizationThe gradual repayment of a loan through scheduled periodic payments that cover both principal and interest.
Comparable Sales (Comps)Recently sold properties similar in size, condition, and location used by appraisers and agents to estimate a property's market value.
State-Specific Concepts
Broker Supervision
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