Washington License Law
A Washington real estate firm changes its business name. The firm must:
ASimply start using the new name in advertising without any formal process
BFile for a new firm license with the DOL under the new name and update all marketing materials✓ Correct
CWait 30 days before using the new name in advertising
DNotify all current clients but not the DOL
Explanation
Washington requires real estate firms to be licensed under their operating name. A name change requires application for a new or amended firm license with the DOL.
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Key Terms to Know
Lien
A financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
ProrationThe division of ongoing property expenses (taxes, HOA dues, rents) between buyer and seller at closing based on their respective days of ownership.
State-Specific Concepts
License Law
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