What is true about a real estate licensee claiming that a condominium's price will double in five years?

Prepare for the Georgia Real Estate License Test. Use flashcards and multiple choice questions to enhance your understanding of the laws and rules. Get exam-ready with detailed explanations and hints!

A real estate licensee claiming that a condominium's price will double in five years is indeed making a statement that can be considered a violation of license law. This stems from the fact that such a prediction about future property value is speculative and can be misleading to potential buyers. Licensees are expected to provide accurate, substantiated information rather than projections or guarantees about future market conditions, which are inherently uncertain.

This type of claim can potentially classify as misrepresentation, which is prohibited under Georgia's real estate laws. Licensees must avoid making statements that could mislead clients or consumers about the value of a property or the nature of the real estate market. Essentially, the responsibility of the licensee is to disclose factual information and ensure that representations are accurate and verifiable, preventing any unintended reliance on speculative statements.

Regarding the other options, marketing practices must remain grounded in verifiable claims, dual agency pertains to representing both the buyer and seller in a transaction, and a written statement is not inherently required for speculative claims about property value. Thus, it's clear why the assertion regarding the future doubling of the condominium's price connects to a violation of the license law.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy