Law of Agency (9)

An independent contractor agreement is usually entered into between which of the following parties?

A broker and a sponsored sales agent

Sam works at a brokerage firm. She is paid an hourly wage and must work from nine to five. Which of the following would Sam be considered?

An employee

What term is used to describe a licensed broker who works for another real estate broker?

Broker associate

Lena is a broker associated with Bluebonnet Realty. She holds which license?

Broker's license

Which of the following must a broker provide to associate brokers who work as independent contractors?

Written contract

Unless licensed as a sales agent or a broker, a personal assistant could NOT

show listings

What is an independent contractor agreement used for in the real estate profession?

It is generally an employment contract between a broker and a sales agent.

Which of the following acts supports a case that a person is an employee rather than an independent contractor?

Federal income taxes are withheld for the person.

Gary Lawson is the broker operating a real estate office. Gary employs three associate brokers and two sales agents, and one assistant. Who in Gary's office can hold a listing?

Gary Lawson

Which of the following acts requires a real estate license?

Showing property

What is meant by a foreign broker?

Someone licensed in another state or country.

Which state or federal agency publishes guidance to brokers to determine whether sponsored sales agents and broker associates are considered employees or independent contractors?

The Internal Revenue Service