Leasing License Practice Exam

What is required by the License Act to appear in all advertisements?

1. The name of the agent

2. Brokerage company name or property name

3. The listing price

4. Contact information for the owner

The correct answer is: Brokerage company name or property name

The requirement for the brokerage company name or property name to appear in all advertisements stems from the need for transparency and professionalism in real estate transactions. By mandating that the brokerage name is included, the License Act ensures that consumers can identify who is representing them or the property being advertised. This helps maintain accountability and allows potential clients to perform due diligence regarding the reputation and reliability of the brokerage. Including the brokerage name also protects consumers from misleading advertisements and fraudulent practices, as they are more likely to verify the legitimacy of a known company. The brokerage name serves as a means of establishing a level of trust and provides a point of contact for inquiries. In contrast, while the name of the agent, listing price, and contact information for the owner may be important in specific contexts, they are not universally required by the License Act to be included in all forms of advertisement. The focus remains on the brokerage identity, which plays a central role in professional dealings in the real estate market.