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Representative broker

A representative broker is the licensed broker who acts for a corporation, partnership or LLC brokerage and supervises its associated licensees.

Direct answer

What does representative broker mean?

A representative broker is the licensed broker who acts for a corporation, partnership or LLC brokerage and supervises its associated licensees.

Exam cue: When a question asks who accepts listings or supervises a salesperson in an entity brokerage, look to the representative broker. A sole proprietor broker supervises directly.

What does it look like in a question?

Example

A salesperson negotiates terms, but the listing belongs to the broker who accepted it for the brokerage.

Common exam trap

What should you not confuse it with?

A salesperson is not a representative broker merely because the salesperson leads a sales team.

Related license law terms

Article 12-AArticle 12-A is the part of New York Real Property Law that regulates real estate brokers and salespersons.Article 78 proceedingAn Article 78 proceeding is a court proceeding used to seek review of certain actions or determinations by a New York state or local body.Blind advertisementA blind advertisement is a real estate advertisement that fails to identify the broker or brokerage as required by New York advertising rules.ComminglingCommingling is mixing client funds or property with a broker's own funds or property.ConversionConversion is the wrongful exercise of control over another person's money or property that seriously interferes with that person's rights.EscrowEscrow is an arrangement in which money, documents or property are held by a neutral party under stated conditions until a transaction event occurs.
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