Gold Coast Class Practice Test

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.