Must Brokers Disclose Their Licensure Status?
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All states license the practice of real estate brokerage. A common provision of such laws is that real estate licensees must disclose their licensure status when they buy or sell a property for themselves, their company, for a spouse, a partner or for an immediate member of the family such as a parent or child.
The reasoning behind such disclosure rules is that brokers and salespeople, by virtue of the fact that they are licensed, are presumed to have a marketplace advantage over those who have not studied real estate, passed various tests, and obtained a license. To have a fair playing field, brokers and salespeople must disclose the fact that they are licensed so that consumers know about such training and experience.
For specifics, speak with brokers regarding disclosure requirements in your state.
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