Question
The primary purpose of the license law is to do all of the following EXCEPT A) to maintain high standards in the real estate profession. B) to prescribe certain minimum standards and qualifications for licensing brokers and sales agents. C) to protect the public from dishonest or incompetent brokers or salespeople. D) to protect licensed brokers from competition.
Ask by Garrett Lambert. in the United States
Feb 24,2025
Upstudy AI Solution
Tutor-Verified Answer
Answer
The primary purpose of the license law is to maintain high standards, set minimum qualifications, and protect the public, but it does not aim to protect licensed brokers from competition.
Solution
The correct answer is D.
The primary purpose of license law is to ensure that real estate professionals meet certain minimum standards (options A, B, and C) and to protect the public from potential harm caused by incompetent or dishonest professionals. Protecting licensed brokers from competition (option D) is not one of the main intents of the law.
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Simplify this solution The Deep Dive
The license law serves as a crucial safeguard that ensures only qualified individuals can practice in the real estate profession. By setting minimum standards for education and conduct, it elevates the industry as a whole and fosters trust between agents and clients. Interestingly, while protecting the public interest is a paramount concern, the license law doesn't aim to shield brokers from healthy competition. Competition is essential in driving service quality and innovation, ensuring that consumers have options and brokers can continuously improve their offerings.
