Question

Arnie is a real estate salesperson in Minnesota. He's leaving his current broker, Marisol, and is going to immediately associate with Manny. Which of the following statements is true?

A. Arnie must notify the Minnesota Department of Commerce before making this change.
B. Arnie cannot immediately associate with Manny but must wait for a specific time period.
C. Arnie does not need to take any action to associate with Manny.
D. Arnie must obtain written permission from his previous broker, Marisol, before making this change.

Answer 1

Arnie must notify the Minnesota Department of Commerce before changing brokers, meaning that option A is the correct answer. No waiting period is required, nor is the previous broker's written permission.

Step-by-step explanation:

Arnie's situation involves understanding the regulations for real estate professionals in Minnesota. When a salesperson moves from one broker to another, the correct procedure according to Minnesota law is that Arnie must notify the Minnesota Department of Commerce before making the change.

This notification is necessary for the update of licensing records and to ensure all parties are aware of the representation change.

Therefore, the true statement is: A. Arnie must notify the Minnesota Department of Commerce before making this change.

There is no mentioned requirement for a waiting period, nor is written permission from the previous broker required by state law for the move, although it may be a professional courtesy.

It is also inaccurate to say that Arnie does not need to take any action to associate with Manny since an official notification must be made to the regulatory body.