PSI Virginia Real Estate Practice Exam

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Prepare for the Virginia Real Estate Exam with our interactive quiz. Study using multiple choice and flashcards, complete with hints and detailed explanations. Ace your test with confidence!

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What is a primary responsibility of a real estate broker?

To supervise property management teams
To negotiate property prices solely
To ensure compliance with local laws and regulations
To handle client disputes only

The correct answer is: To ensure compliance with local laws and regulations

A primary responsibility of a real estate broker is to ensure compliance with local laws and regulations. This encompasses a broad range of duties, including understanding and adhering to zoning laws, fair housing regulations, and property disclosure requirements. Compliance is crucial because it protects both the broker and their clients from legal issues that might arise from non-compliance. While supervising property management teams, negotiating property prices, and handling client disputes are important tasks that brokers may also perform, these functions fall under specific aspects of their role rather than being an overarching responsibility. Ensuring compliance reflects the broker's obligation to uphold the law, maintain ethical standards in real estate transactions, and foster trust within the community and the market. This foundational role helps create a secure environment for conducting real estate business.