Chapter 10 of 1412% of exam
Practice of Real Estate
This area covers fair housing, ethics, and proper handling of transactions. Compliance protects consumers and the licensee.
Fair Housing Law
The federal Fair Housing Act protects seven classes: race, color, religion, national origin, sex, familial status, and disability. Prohibited practices include steering, blockbusting, and redlining. Advertising and terms must be nondiscriminatory.
Trust Funds and Advertising
Client and escrow funds must be held separately; commingling with the broker's funds is prohibited. Advertising must be truthful and identify the responsible brokerage. Misrepresentation of material fact is prohibited, while honest opinion is allowed.