South Dakota Real Estate Broker Associate Exam — All Questions
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Real estate licensees in South Dakota are licensed and regulated by:
- a.The South Dakota Association of Realtors
- b.The South Dakota Real Estate Commission✓
- c.The South Dakota Secretary of State
- d.The county register of deeds
The South Dakota Real Estate Commission licenses and disciplines real estate licensees under SDCL Chapter 36-21A. A trade association is a private membership group and does not issue licenses.
In South Dakota, a broker associate must conduct real estate activity:
- a.Independently once licensed
- b.For any broker who will pay a commission
- c.Under the supervision of a responsible broker✓
- d.Only after also becoming a responsible broker
South Dakota's entry-level broker associate must be associated with and supervised by a responsible broker and may not operate independently. The responsible broker is accountable for the associate's real estate conduct and for the brokerage's trust accounts and records.
A South Dakota broker associate may lawfully be paid a commission by:
- a.The responsible broker with whom the license is associated✓
- b.The buyer directly at closing
- c.The seller directly upon listing
- d.Any cooperating broker in the transaction
A South Dakota broker associate is compensated only through the responsible broker with whom the license is associated, not directly by a buyer, seller, or another broker. The responsible broker supervises the associate and handles client funds.