A license is required for the following tasks:
- Make cold calls by telephone or in-person to potential clients.
- Show properties for sale and/or lease to prospective purchasers.
- Host open houses, home show booths, or fairs.
- Discuss or explain listings, offers, contracts, or other similar matters with persons outside the firm.
- Negotiate any terms of a real estate transaction.
- Negotiate or agree to any commission split or referral fee on behalf of a licensee.
- Be paid any compensation which is dependent upon, or directly related to, a real estate transaction.
A license is not required for the following tasks:
- Answer the phone, forward calls, and give information contained only on the listing agreement as limited by the broker.
- Fill out and submit listings and changes to any multiple-listing service.
- Follow up on loan commitments after a contract has been negotiated and generally secure status reports on the loan progress.
- Assemble documents for closing.
- Secure public information from courthouses, utility districts, etc.
- Have keys made for listings.
- Place ads that have been approved by the Principal Broker.
- Receive, record, and deposit earnest money, security deposits, and advance rents under the direct supervision of the Principal Broker.
- Type contract forms for approval by the licensee and Principal Broker.
- Monitor licenses and personnel files.
- Calculate, print, or distribute commission checks.
- Place signs on a property.
- Order repairs as directed by the licensee.
- Prepare for distribution fliers and promotional information that have been approved by the Principal Broker.
- Deliver documents and pick up keys.
- Place routine telephone calls on late rent payments.
- Gather information for a comparative market analysis (CMA).
- Unlock property under the direction of a licensee.
- Disclose the current sales status of a listed property.