Topic 5.6: Brokers and Sales Associates Are Experts

Because the law considers brokers and sales associates to be experts in real estate, they are responsible for their representations to customers. Licensees must not offer an opinion of title since it can be relied on as expert opinion. Licensees should not give legal advice, nor prepare legal documents, or they may be charged with the unauthorized practice of law (a third-degree felony).

Brokers and sales associates may give an opinion of value, but the opinion should be based on a reasonable study of comparable sales. Licensees who exaggerate or inflate property value to buyers may be found guilty of fraud or breach of trust.