Which acronym helps to remember the duties a licensee owes to customers, and what does it include?

The acronym that helps remember the duties a licensee owes to customers is DRHP, which stands for Disclosure, Reasonable skill and care, Honesty, and Presentation of offers. Understanding this acronym is key because it encapsulates the essential responsibilities that real estate professionals have towards their clients and customers.

• Disclosure refers to the obligation of a licensee to inform clients of any material facts about a property that could influence their decisions. This is crucial for maintaining transparency and trust.

• Reasonable skill and care implies that the licensee must perform their duties to the best of their abilities, ensuring that clients receive competent service.

• Honesty emphasizes the importance of integrity in all dealings and communications with customers, which fosters trust and credibility in the real estate profession.

• Presentation of offers indicates that the licensee has the duty to present all offers promptly to the client, ensuring that they are fully informed to make decisions about their transactions.

Together, these components illustrate the foundational principles that guide ethical conduct and professionalism in real estate, making DRHP the correct choice. Understanding and applying these duties not only protects clients but also enhances the overall standards of the real estate industry.