It is a firm with a team of real estate agents or realtors as employees.

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Study for the Audit of Construction and Real Estate Industry Test. Utilize flashcards and multiple-choice questions with explanations. Prepare effectively for your exam!

Multiple Choice

It is a firm with a team of real estate agents or realtors as employees.

Explanation:
In real estate practice, the firm that hires licensed professionals and oversees their transactions is a brokerage. A brokerage provides the business structure, supervision, and broker-level authority that allows agents or realtors to operate legally and effectively. The individuals who work there are the real estate agents, not the company itself. Lenders are financial institutions, and sales and marketing describe activities within the business, not the organizational form. So the firm described—employing a team of real estate agents—is a brokerage.

In real estate practice, the firm that hires licensed professionals and oversees their transactions is a brokerage. A brokerage provides the business structure, supervision, and broker-level authority that allows agents or realtors to operate legally and effectively. The individuals who work there are the real estate agents, not the company itself. Lenders are financial institutions, and sales and marketing describe activities within the business, not the organizational form. So the firm described—employing a team of real estate agents—is a brokerage.

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