Question

Sandy wishes to start a new real estate company, although she has never had a real estate license of any type. Which of the following statements is true?

a) She can receive her managing broker's license and start a company immediately.
b) She must be licensed for at least two years before she can manage an office.
c) She cannot own a real estate company without being licensed.
d) She can get licensed, start a company, but not hire any agents for two years.

Answer 1

Sandy cannot own a real estate company without being licensed.

Step-by-step explanation:

The correct statement is c) She cannot own a real estate company without being licensed.

In order to start a real estate company, Sandy must obtain a real estate license. Each state has its own licensing requirements, but typically, individuals must complete pre-licensing courses and pass an exam to become licensed. Without a license, Sandy would not be legally allowed to own or operate a real estate company.

Once Sandy is licensed, she can start her own real estate company. However, she may need to meet additional requirements, such as having a certain amount of experience or being affiliated with a licensed brokerage for a specific period of time.