Certification in real estate refers to an appraiser's formal attestation of freedom from bias in an appraisal report and the official acknowledgment of one's expertise, often mandated by state regulations.
Consideration is a fundamental element in contract law that refers to something of value being exchanged between parties when entering into a contract. This exchange can include money, services, products, etc. It is a necessary component for a contract to be deemed valid.
License laws govern the activities of real estate salespersons to ensure that transactions are conducted fairly, ethically, and legally, thereby protecting consumers and maintaining integrity in the marketplace.
