DRE & LicensingIntermediateCalifornia Exam
Under California law, when must a real estate licensee disclose their license status to the other party in a transaction?
AOnly if asked, under California Department of Real Estate requirements
BOnly if they are buying property for investment purposes, per standard DRE licensing procedure
CWhenever they are a principal in a transaction (buying or selling for themselves)Correct
DOnly during the first meeting, as required for license renewal in California
Why Whenever they are a principal in a transaction (buying or selling for themselves) Is Correct
Answer C: Whenever they are a principal in a transaction (buying or selling for themselves)
California law requires real estate licensees to disclose their license status whenever they are acting as a principal (buying or selling property for their own account) in a real estate transaction.
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Key Terms to Know
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