Idaho License Law
What disclosure is required when an Idaho licensee intends to purchase a property they have listed?
ANo special disclosure is needed if no commission is paid
BThe licensee must disclose their licensed status and their interest in purchasing the property in writing to the seller before making an offer✓ Correct
CThe licensee must obtain IREC approval before making an offer
DThe licensee must disclose to all other interested buyers
Explanation
Idaho license law requires agents to disclose their licensed status and personal interest when purchasing any property in which they are involved, especially properties they have listed. This disclosure prevents conflicts of interest and ensures the seller understands they are selling to a real estate professional who may have superior market knowledge.
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