Florida Broker Practice Exam

What must an exempt transaction under the Fair Housing Act NOT include?

1. Involvement of a real estate licensee

2. Owner occupied properties

3. Lease agreements

4. Rentals advertised publicly

The correct answer is: Involvement of a real estate licensee

In the context of the Fair Housing Act, exempt transactions refer to specific scenarios where certain regulations regarding discrimination in housing do not apply. When determining what an exempt transaction must not include, the involvement of a real estate licensee is a crucial consideration. Exempt transactions under the Fair Housing Act are often related to owner-occupied properties, which means that when an owner is leasing or selling their home without engaging in a real estate licensee's services, they may not be subject to the same level of scrutiny and regulation related to fair housing laws. The involvement of a real estate licensee typically indicates that the transaction is more formalized, often subjecting it to the full provisions of the Fair Housing Act. If a property owner chooses to sell or rent their property independently, without the involvement of a licensee, they might operate under exemption conditions. Thus, such an involvement is not a requirement for the exemption to apply. Additionally, exempt transactions can include lease agreements or owner-occupied properties, and rentals that are advertised publicly can also fall under scrutiny depending on how they are handled, which does not impact the presence of an exempt transaction. The delineation comes into focus with the role that a real estate professional plays, emphasizing that the absence of their