North Dakota Real Estate Practice Exam

True or False: A broker's home may qualify as a place of business.

1. True

2. False

3. Only if approved by the commission

4. Only for part-time brokers

The correct answer is: False

The statement is false because a broker's home typically does not qualify as a place of business under North Dakota's real estate regulations. A place of business must meet specific requirements set forth by the North Dakota Real Estate Commission, including being a permanent, physical office with proper signage and facilities that are accessible to the public. While a broker may conduct some business-related activities from their home, it must be a separate, designated commercial space to be officially recognized as a place of business. This distinction ensures that there is adequate transparency and professional standards in real estate practices within the state.