Neil recently obtained his Florida sales associates license. He then decides to open his own office and hire four sales associates to work under him. Neil and his four sales associates agree to split any commissions earned by the four associates 50/50. Has Neil violated any licensing laws?

No. All of Neil's actions are permitted under state law.

Yes. Only licensed real estate brokers can open their own office and hire sales associates to work under them.

Yes. As a sales associate himself, Neil is only permitted to take up to 25% of the commissions earned from other sales associates.

No. If a sales associate runs their own office, they are permitted by law to hire up to four sales associates to work under them.