What must a licensee do when offering to purchase a property as a condition for brokerage engagement?

When a licensee offers to purchase a property as a condition for brokerage engagement, entering into a written contract to purchase is essential for ensuring that there is a formal and legally binding agreement between the parties involved. This written contract outlines the terms and conditions of the sale, which are critical for clarity and to protect the interests of both the buyer and seller.

Having a written contract also aligns with Georgia real estate laws, which emphasize the importance of documented agreements in real estate transactions. This helps avoid potential misunderstandings or disputes that may arise if the terms are only verbally agreed upon. Written contracts also provide a clear reference for any obligations that need to be fulfilled by either party, thus facilitating a smoother transaction process.

In contrast, simply agreeing to purchase the property at the listed price without a formal contract does not provide the necessary legal protection or clarity, and not following the required procedures can lead to complications. The other options either misunderstand the obligations involved in a brokerage engagement or suggest actions that might not legally bind the parties in a significant manner.