What must a real estate corporation have?

Study for the Gold Coast Class Test. Prepare with flashcards and multiple choice questions, each offering hints and explanations. Ace your exam!

Multiple Choice

What must a real estate corporation have?

Explanation:
Real estate corporations must have at least one officer who holds an active broker license. This person serves as the designated broker or broker-of-record, overseeing all brokerage activities and ensuring compliance with licensing laws. Having an active broker in a leadership role provides the necessary supervision for licensees and the authority to bind the firm in real estate transactions. The other options aren’t required by typical real estate corporate regulations: an attorney on staff isn’t mandated, a corporate seal isn’t a legal requirement, and requiring two officers who are active brokers is more than the minimum.

Real estate corporations must have at least one officer who holds an active broker license. This person serves as the designated broker or broker-of-record, overseeing all brokerage activities and ensuring compliance with licensing laws. Having an active broker in a leadership role provides the necessary supervision for licensees and the authority to bind the firm in real estate transactions. The other options aren’t required by typical real estate corporate regulations: an attorney on staff isn’t mandated, a corporate seal isn’t a legal requirement, and requiring two officers who are active brokers is more than the minimum.

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