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The most essential element to create an enforceable broker-principal relationship is a:

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Final answer:

The most essential element to create an enforceable broker-principal relationship is ownership of the property.

Step-by-step explanation:

The most essential element to create an enforceable broker-principal relationship is ownership of the property. In order to enter into a contract as a broker, you must first have the legal ownership rights to the property. This property ownership grants you the ability to form contractual relationships with other parties.

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