Arizona License LawIntermediateArizona Exam
A real estate licensee in Arizona is required to disclose their license status when:
ABuying or selling property for their own accountCorrect
BOnly when listing a property for commission
COnly when acting as a buyer's agent
DOnly in commercial transactions
Why Buying or selling property for their own account Is Correct
Answer A: Buying or selling property for their own account
Arizona law requires a licensee to disclose their licensed status in writing when purchasing or selling real property for their own account, to ensure the other party is aware they are dealing with a real estate professional.
Key Arizona License Law Terms in This Question
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Key Terms to Know
Buyer's Agent
A real estate licensee who represents the buyer's interests in a transaction, owing fiduciary duties to the buyer.
Seller's Agent (Listing Agent)A real estate licensee who represents the seller's interests, markets the property, and owes fiduciary duties to the seller.
AppraisalA professional estimate of a property's market value prepared by a licensed or certified appraiser.
Math Concepts
State-Specific Concepts
License Law
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