When a licensed real estate agent wishes to purchase a property listed with their brokerage for their own account, what must they do?
Correct Answer
B) Disclose their status as a licensed real estate agent in writing to the seller
Idaho law requires licensees to disclose their licensed status in writing whenever they purchase property for their own account. This written disclosure protects the seller by ensuring they are aware they are dealing with a real estate professional who may have superior market knowledge. There is no requirement to offer above asking price, notify IREC in advance, or use a different brokerage — the key obligation is written disclosure of licensee status.
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