What must a licensee do prior to listing property?

Prior to listing a property, a licensee must verify ownership and obtain signatures. This step is crucial because it ensures that the person listing the property has the legal right to do so. By verifying ownership, the licensee protects both themselves and their clients from potential legal disputes regarding ownership claims. Additionally, obtaining signatures ensures that all necessary parties are in agreement about the sale and the terms of the listing agreement, which is a binding contract between the property owner and the real estate agent.

The other options represent important aspects of real estate marketing and sales, but they follow the initial requirement of confirming ownership and securing the appropriate authorizations. Advertising the property in local papers is directed towards attracting potential buyers and should occur after the listing is confirmed. Conducting an open house is a strategy used for promoting the property once it is officially listed and ready for market exploration. Similarly, preparing a marketing strategy is a vital phase of the sales process, but it comes after ensuring all rights and agreements are in place. Thus, the foundational step of verifying ownership and obtaining signatures is essential for legally moving forward with the listing process.