Idaho Real Estate Salesperson Exam — All Questions
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Real estate salespersons in Idaho are licensed and regulated by:
- a.The Idaho Realtors association
- b.The Idaho Real Estate Commission (IREC)✓
- c.The Idaho Housing and Finance Association
- d.The Idaho Secretary of State
The Idaho Real Estate Commission (IREC) licenses and disciplines brokers and salespersons and enforces the Idaho real estate license law under Title 54, Chapter 20. A trade association is a private membership organization and has no licensing authority.
In Idaho, the licensee responsible for a brokerage's operations, trust account, and supervision of affiliated licensees is the:
- a.Associate broker
- b.Salesperson of record
- c.Designated broker✓
- d.Managing agent
Each Idaho brokerage must have a designated broker who is responsible for the brokerage's operations, its trust account, and the supervision of affiliated licensees. A salesperson conducts licensed activity for and under the supervision of the designated broker.
An Idaho salesperson may accept compensation for brokerage services from:
- a.The buyer directly at closing
- b.Any cooperating salesperson
- c.The seller in cash before closing
- d.The brokerage's designated broker✓
An Idaho salesperson is paid only through the brokerage's designated broker, who supervises the salesperson's licensed activity. A salesperson may not accept a fee or commission directly from a buyer, seller, or another licensee.