Which statement about Arizona real estate contracts is correct?

The assertion that member licensees may use forms provided by the Arizona Association of REALTORS® is correct because it aligns with state regulations and practices regarding real estate transactions in Arizona. The Arizona Association of REALTORS® provides standardized forms that are designed to comply with legal requirements and best practices in real estate. This enables agents and brokers to have access to reliable, legally-sound templates, which can improve efficiency and reduce the risk of errors in contract execution.

This is crucial for maintaining a level of professionalism and ensures that licensees are not required to draft contracts from scratch, which could lead to inconsistencies and potential legal issues. By using these vetted forms, agents can focus on serving their clients rather than getting bogged down in administrative details.

The other statements do not accurately reflect the practices or regulations governing real estate contracts in Arizona. Agents are not required to create their own forms, and while brokers have significant authority, licensees are often authorized to perform many actions, including the execution of standard contracts. Finally, not all contracts require notarization to be valid; notarization is only necessary in specific circumstances as dictated by state law.