Question 39

A person is NOT required to have a real estate license when acting as an administrator of an estate.

Acting as an administrator of an estate does not necessitate a real estate license, as this role involves managing the assets of a deceased person's estate, including real property, rather than engaging in real estate transactions for profit.

A) Operator of a rental referral company

An operator of a rental referral company typically needs a real estate license, as this role involves facilitating rental agreements and potentially collecting fees for referrals, thereby engaging in activities that require licensing under real estate laws.

B) Commercial mortgage broker

A commercial mortgage broker requires a real estate license to operate legally. This role involves negotiating and facilitating loans secured by commercial properties, which falls under regulated real estate activities.

C) Real estate auctioneer

A real estate auctioneer must hold a real estate license since this position involves selling properties at auction, which is considered a form of real estate brokerage and is subject to licensing requirements.

D) Administrator of an estate

The role of an administrator of an estate is exempt from the requirement of a real estate license. This position is focused on managing the decedent's estate and its assets, including real property, without engaging in the commercial sale or lease of real estate.

Conclusion

The correct answer is D, as an administrator of an estate is managing assets rather than conducting real estate transactions for compensation, which does not require licensure. In contrast, options A, B, and C all involve activities that necessitate a real estate license, demonstrating their alignment with real estate brokerage laws.