If a licensee buys a property under a listing agreement after realizing it was rezoned, which statement is correct?

The correct answer highlights the importance of transparency and ethical behavior in real estate transactions. When a licensee decides to buy property that they have listed, particularly after discovering a change such as zoning, it is crucial that they inform the owner of their intentions. Doing so ensures that the owner is fully aware of the situation and avoids potential conflicts of interest or ethical dilemmas.

In real estate, licensees have a fiduciary responsibility to their clients, which includes acting in the best interests of the client and disclosing relevant information. If the licensee informs the owner of their intentions to purchase, this demonstrates honesty and maintains the integrity of the transaction. This is particularly relevant in cases where the value or utility of a property may significantly change due to a zoning designation, which could impact the owner’s decisions moving forward.

The other choices do not align with the ethical standards and legal responsibilities of a real estate licensee. For instance, discussing the need for a local license, sharing the selling price after the fact, or stipulating that a zoning change is a prerequisite before purchase can misrepresent the obligations a licensee has regarding transparency and fiduciary duties.