Delaware License Law and the Broker Tier
Delaware real estate practice is governed by Title 24, Chapter 29 of the Delaware Code and administered by the Delaware Real Estate Commission within the Division of Professional Regulation. This chapter covers the Commission's authority, what a broker license adds, the Client Waiver, and the Guaranty Fund.
The Commission and 24 Del. C. Ch. 29
The Delaware Real Estate Commission, within the Division of Professional Regulation, licenses and disciplines brokers and salespersons under Title 24, Chapter 29 and its rules. Anyone who, for compensation, negotiates real estate transactions for others must be licensed unless exempt. The broker tier requires qualifying salesperson experience plus additional broker education, reflecting the added authority and responsibility of the license.
Broker Authority and the Client Waiver
A Delaware broker may operate a brokerage, employ and supervise salespersons and associate brokers, and be responsible for the firm's escrow accounts. Delaware also offers a Client Waiver that lets qualifying out-of-state licensees skip the national/general exam portion and take only the Delaware state portion; it does not waive the state portion or fees. Applicants should confirm current waiver eligibility with the Commission.
The Delaware Real Estate Guaranty Fund
The Guaranty Fund reimburses consumers who obtain an uncollectible final judgment against a licensee for fraud, misrepresentation, or deceit in a licensed transaction, subject to statutory caps per transaction and per licensee. A licensee whose conduct triggers a payment can have the license suspended until the fund is repaid. It protects the public and is not an operating or lending fund.