(a) No person shall engage in the practice of providing real estate services or hold himself or herself out to the public in this State as being qualified to practice the same; or use in connection with that person’s name, or otherwise assume or use, any title or description conveying or tending to convey the impression that the person is qualified to practice real estate services, unless such person has been duly licensed under this chapter.
Terms Used In Delaware Code Title 24 Sec. 2901
- Attorney-at-law: A person who is legally qualified and licensed to practice law, and to represent and act for clients in legal proceedings.
- Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.
- Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
- Broker: means any individual who holds a broker license from the Commission and who for a compensation or valuable consideration, is self-employed or is employed directly or indirectly by a brokerage organization to sell or offer to sell, or to buy or offer to buy, or to negotiate the purchase, sale, or exchange of real estate, or to lease or rent or offer for rent any real estate, or to negotiate leases or rental agreements thereof or of the improvements thereon for others. See Delaware Code Title 24 Sec. 2902
- Brokerage organization: means that individual or business entity which is not licensed but is acting as a broker under § 2901(c) of this title and is the trade name under which the broker operates. See Delaware Code Title 24 Sec. 2902
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Division: means the Delaware Division of Professional Regulation. See Delaware Code Title 24 Sec. 2902
- Executor: A male person named in a will to carry out the decedent
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Licensee: means an individual licensed under this chapter as a broker, associate broker or salesperson without implying what legal relationship they have with a customer or client. See Delaware Code Title 24 Sec. 2902
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Person: means an individual, firm, partnership, corporation, association, joint stock company, limited partnership, limited liability company and any other legal entity and includes a legal successor of those entities. See Delaware Code Title 24 Sec. 2902
- Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
- Property management services: means those actions taken for others, pursuant to an agreement, in exchange for a fee, commission, compensation or other valuable consideration which include the supervision and the administration of the physical maintenance and/or the financial matters of real property. See Delaware Code Title 24 Sec. 2902
- Real estate services: means those activities performed by a licensee as defined in this chapter. See Delaware Code Title 24 Sec. 2902
- State: means the State of Delaware. See Delaware Code Title 24 Sec. 2902
- Trustee: A person or institution holding and administering property in trust.
(b) Any person engaging in the practice of providing real estate services in this State without the proper licensure shall be in violation of this chapter and shall be subject to the provisions of § 10161 of Title 29.
(c) No brokerage organization, corporation, partnership or other business entity shall be licensed under this chapter. Nothing in this chapter, however, shall prevent such brokerage organization from providing real estate services provided the individual or business entity has a broker who is responsible for providing real estate services and who may have affiliated associate brokers or salespersons, properly licensed in this State, who provide such services under the supervision of the broker.
(d) No person shall directly or indirectly provide real estate services through a licensee of the State without having a license in this State.
(e) This chapter shall not apply to:
(1) Any person or a subsidiary or division thereof with common ownership or control who, as owner or lessor or buyer or lessee, performs any of the acts enumerated in this section with reference to property owned, purchased or leased by such person or a subsidiary or division thereof with common ownership or control or to the regular employee of such person, with respect to the property so owned, purchased or leased, where such acts are performed in the regular course of or as an incident to the management of such property and the investment therein; or
(2) Persons acting as attorney in fact under a duly executed power of attorney from a person engaged in a real estate transaction authorizing the final consummation by performance of any agreement of sale, leasing or exchange of real estate.
(3) This chapter shall not be construed to include in any way the services rendered by an attorney-at-law, nor shall it be held to include, while acting as such, the receiver, trustee in bankruptcy, administrator or executor, or any person selling real estate under order of any court, or a trustee acting under a trust agreement, deed of trust or will, or the regular salaried employee thereof.
(4) An “auctioneer” as defined in § 2301(a)(3) of Title 30.
(5) A provider of property management services as defined in § 2902 of this title excepting that a provider of property management services shall not directly or indirectly sell or offer to sell, buy or offer to buy, negotiate the purchase, sale, or exchange of real estate, lease or rent or offer for lease or rent any real estate, or negotiate leases or rental agreements thereof or of the improvements thereon for others.
35 Del. Laws, c. 63, §§ 3; Code 1935, §§ 5475, 5480; 24 Del. C. 1953, §§ 2906, 2910; 60 Del. Laws, c. 714, § 3; 67 Del. Laws, c. 121, §§ 6, 23; 67 Del. Laws, c. 381, § 5; 70 Del. Laws, c. 186, § 1; 78 Del. Laws, c. 166, § 1.;