Fair Housing
A Wyoming real estate licensee who makes different representations about property prices or financing options to buyers based on their national origin is committing:
ANormal price negotiation
BUnlawful discrimination under the Fair Housing Act and potentially the Equal Credit Opportunity Act✓ Correct
CAcceptable business practice if it results in more transactions
DA violation only if the buyer files a complaint
Explanation
Providing different information about available properties, pricing, or financing options based on a buyer's national origin (or other protected characteristics) is illegal discrimination under the Fair Housing Act and ECOA. All buyers and borrowers are entitled to equal, accurate information.
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Key Terms to Know
Fair Housing Act
Federal law prohibiting discrimination in the sale, rental, or financing of housing based on race, color, national origin, religion, sex, disability, and familial status.
SteeringAn illegal practice where a real estate agent directs buyers toward or away from certain neighborhoods based on the buyer's race, religion, national origin, or other protected characteristics.
BlockbustingAn illegal practice of inducing homeowners to sell by claiming that the entry of minority groups will lower property values.
RedliningAn illegal practice where lenders or insurers deny services or charge higher rates in certain neighborhoods based on the racial or ethnic composition of those areas.
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