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In today's video, the topic discussed is equitable interest, a key concept for real estate licensing exams and professional practice. Equitable interest plays a crucial role in buyer-seller transactions. The video outlines how, in a typical real estate transaction, the parties involved change roles throughout the process. Initially, during negotiations, the buyer acts as the offeror, presenting an offer, while the seller is the offeree, receiving it. This foundational understanding of equitable interest is essential for real estate professionals as it influences the dynamics of contract negotiations and transactions.