Final answer:
Ethically, new licensee Max should use an industry-standard form to write up his first offer as it is comprehensive, legally vetted, and widely accepted in the real estate industry.
Step-by-step explanation:
New licensee Max is deciding on the appropriate form to use for writing up his first offer. Ethically speaking, the best form for Max to use would be an industry-standard form. Using an industry-standard form would ensure that the offer is comprehensive and follows a structure that is recognized and accepted within the real estate industry. Unlike personally drafted forms, industry-standard forms are usually vetted by legal professionals and tailored to meet state requirements, thereby reducing the risk of legal issues or omissions of important details. Moreover, industry-standard forms are designed to be fair and balanced for all parties involved in the transaction.
In contrast, using any personally drafted form or a generic legal document may not provide the same level of detail, protection, or standardization, potentially leading to disputes or misunderstandings. Moreover, an oral agreement is typically not enforceable in real estate transactions, as they need to be in writing to comply with the statute of frauds in most jurisdictions. Therefore, an industry-standard form is not only ethical but also the most professional option for writing up a real estate offer.