Final answer:
To prepare a broker's price opinion and charge a fee, a licensed person needs to meet specific requirements set by each state.
Step-by-step explanation:
To prepare a broker's price opinion and charge a fee, a licensed person needs to meet certain requirements. These requirements vary by state, but typically include obtaining a real estate license, completing a certain number of hours of real estate education, and passing a licensing exam. Additionally, some states may require additional certifications or designations specific to broker's price opinions.
For example, in California, a licensed person who wants to prepare a broker's price opinion and charge a fee needs to be a licensed real estate broker. They also need to complete a specific education course approved by the California Bureau of Real Estate. In Florida, a licensed person needs to have a real estate broker's license and complete a broker price opinion training course approved by the Florida Real Estate Commission.
It is important for a licensed person to familiarize themselves with the specific requirements in their state to ensure they are legally able to prepare a broker's price opinion and charge a fee.