ANSWERLINE

Q: I am a licensed real estate salesman interested in property management; however, the firm with which I am associated does not engage in property management. May I manage real estate for others on my own outside the real estate office if my Broker-ln-Charge consents?

A: No. Managing property for others requires a real estate license, and is therefore subject to the same laws and rules governing other real estate brokerage activities. Consequently, as a salesman, your acts in connection with managing property for others must be "actively and personally" supervised by a Broker-ln-Charge. Furthermore, since a salesman can have only one supervising Broker-ln-Charge at a time, you would be precluded from engaging in property management under the supervision of another Broker-ln-Charge while associated with your current real estate firm. See, G.S. 93A-6(a)(S) and (15) and Rules A .0110 and A .0506.

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Q: I am a licensed North Carolina real estate broker. I own a tract of real property that is listed for sale with my firm. May I advertise the property as "For Sale by Owner" ?

A: No. Listed property must be advertised in the name of the firm that holds the listing or in a manner that indicates that the advertiser has a real estate license. See, Rule A .0105. Therefore, if you list your property with your firm, the firm's advertisements of the property must include the firm's name or the type of license held by the listing agent. Furthermore, persons who have real estate brokers or salesmen licenses and who choose to sell their property on their own rather than listing it with their firm should disclose in any advertisements that they hold a real estate license.