In this Part V of this subtitle, “team” means two or more licensed associate real estate brokers or licensed real estate salespersons, or any combination of licensed associate real estate brokers or licensed real estate salespersons, who:
(1) work together on a regular basis to provide real estate brokerage services;
(2) represent themselves to the public as being part of one entity; and
(3) designate themselves by a collective name such as team or group, or by using the words “and associates”.