What is required if a real estate salesperson buys property for themselves or sells their own property?

LICENSEE TRANSACTIONS for their own property: state license laws require licensees to disclose their licensed status when buying or selling their own real estate, even when they're not representing others. WHY: (1) Prevents licensee from misrepresenting themselves as a 'regular FSBO seller' to gain advantage; (2) Other parties know they're dealing with a real estate professional with knowledge advantage; (3) Levels playing field; (4) Maintains profession's integrity. REQUIREMENTS (state-specific): (1) WRITTEN DISCLOSURE — in advertising, in contracts; (2) TIMING — typically before negotiations or substantive discussions; (3) PROMINENT — clearly visible, not buried; (4) SPECIFIC WORDING — some states require specific language (e.g., 'Seller is a licensed real estate agent in [State]'); (5) BROKER NAME — sometimes broker affiliation must also be disclosed even though licensee isn't acting on broker's behalf for own transaction. SOME STATES require the licensee to act through their broker even for personal transactions (broker supervision continues); other states allow personal transactions outside broker control with disclosure. WHEN BUYING — disclose to the seller and seller's agent that you are licensed. WHEN SELLING — disclose to potential buyers and buyer's agents; in listing material, advertising, signs. FAILURE to disclose is a license law violation. APPEARANCE OF NEUTRALITY — even with disclosure, the licensee has knowledge advantage. ENFORCEMENT: complaints from other parties who discover the licensee status later; commission investigations. State portion exam tests YOUR state's specific disclosure requirements for licensee-as-principal transactions, what language is required, where disclosure must appear, and whether broker supervision applies.