It is the obligation of a license holder to be knowledgeable and competent as a real estate brokerage practitioner. The license holder must:(1) be informed on local market issues and conditions affecting real estate in the geographic area where a license holder provides services to a client;(2) be informed on national, state, and local issues and developments in the real estate industry;(3) exercise judgment and skill in the performance of brokerage activities; and(4) be educated in the characteristics involved in the specific type of real estate being brokered for others.