Agency
The Tennessee 'Preamble to License Law' states that the purpose of real estate licensing is to:
AMaximize tax revenue from real estate transactions
BProtect the public interest by ensuring licensed practitioners are competent and ethical✓ Correct
CRegulate commission rates in Tennessee real estate markets
DEnsure brokers are members of professional associations
Explanation
The purpose of Tennessee's Real Estate Broker License Act is to protect the public by ensuring that persons practicing real estate are qualified through education, examination, and ethical standards. Consumer protection is the fundamental purpose of real estate licensing.
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