This question is from course FINC 397 - Principles of Real Estate.

You are being interviewed as a realtor for a couple selling their home. They ask you the different questions related to listing agreements, agent loyalty, and home buyer and seller commissions.

Later on that week, you are being interviewed by another prospective client looking to sell their home. During this interview, they ask you the following questions. How would you respond?

1. What are the advantages and/or disadvantages of using a licensed Realtor (NAR member) versus using a licensed real estate agent (not NAR member)?
2. If I feel that I was not represented fairly by my real estate agent, where would I file a complaint and what impact could it have on the agent if found guilty?
3. Describe and list the four elements of value.
4. List and describe any Fair Housing or other Real Estate laws that may be violated if I decide to rent my home and want to exclude renters with children and/or pets (of any kind or purpose) and only those renters with FICO scores of 700, and over.