|
Must Brokers Disclose Their Licensure Status?
Question: Must real estate brokers disclose the fact that they are licensed when they buy or sell for themselves.
Answer: All states license the practice of real estate brokerage. A common provision of such laws is that real estate licensees must disclose their licensure status when they buy or sell a property for themselves, for a spouse, or for an immediate member of the family such as a parent or child. The reasoning behind such disclosure rules is that brokers and salespeople, by virtue of the fact that they are licensed, are presumed to have a marketplace advantage over those who have not studied real estate, passed various tests, and obtained a license. To have a fair playing field, brokers and salespeople must disclose the fact that they are licensed so that consumers know about such training and experience. Speak with brokers regarding specific requirements in your state.
© 1997 Peter G. Miller. All Rights Reserved.
Written by Peter G. Miller.
© 1997 Peter G. Miller. All Rights Reserved. Rules, Disclaimers & Notices.
Copyright © 2012 Realty Times. All Rights Reserved.
Send Us Your Comments
|
