Directing a client to seek professional advice or counsel relating to matters outside of the licensee's expertise is a risk management strategy known as:

Directing a client to seek professional advice or counsel regarding matters outside of a licensee's expertise is a strategy known as risk shifting. This approach involves transferring the responsibility for certain risks to another party that has the relevant expertise, thus ensuring that the client receives the necessary guidance from a qualified professional. By doing so, the licensee mitigates their own liability and ensures that clients are making informed decisions based on accurate and specialized information.

This strategy is especially important in real estate transactions, where various aspects such as legal matters, financial advice, or environmental concerns are often beyond the scope of a real estate professional’s knowledge. By acknowledging the limits of their own expertise and recommending that clients consult with appropriate specialists, the licensee not only protects themselves but also helps the client navigate complex issues effectively.

Other strategies like education or avoidance may involve providing information to the client or opting out of certain situations entirely, but they do not specifically address the transfer of responsibility in the manner that risk shifting does. Risk calculation would involve analyzing potential risks and their impacts but does not encompass the act of directing clients to seek further expertise. Therefore, risk shifting is the most accurate description of the practice described in the question.