A broker owns a rental property and wishes to sell it. The broker must take which of the following actions?

The correct action for the broker when selling a rental property they own is to disclose to the buyer their position in the property. This is essential to maintain transparency in the transaction and to avoid any potential conflicts of interest. Buyers have the right to know if the person they are negotiating with has any ownership interest in the property, as it can affect their decision-making process. Disclosing this information can help foster trust and allow for a more straightforward and ethical transaction.

In this context, choosing to list the property at full commission or using a net listing arrangement does not address the fundamental obligation of transparency regarding the broker's ownership. Additionally, while having the property appraised can be beneficial for establishing a fair market value, it is not a requirement tied specifically to the broker's ownership status or necessary for compliance with ethical standards in real estate transactions.