Which statement is incorrect regarding the skills of licensees?

The assertion regarding the necessity for licensees to possess the skills of a competent third-party inspector is incorrect. While licensees indeed need a foundational understanding of property conditions and may often coordinate inspections as part of the buying or selling process, they are not typically required to have the same expertise or qualifications as a professional inspector. A competent third-party inspector holds specialized training and certification to conduct thorough evaluations of a property’s condition, which is distinct from the broader skills a licensee should possess in their role.

On the other hand, being skilled negotiators, having technical knowledge relevant to real estate transactions, and understanding market conditions are fundamental skills for licensees. These abilities are crucial for navigating transactions, advocating for clients, and ensuring successful outcomes in a complex and ever-changing market environment.