A Vermont agent who purchases a listed property must:
Correct Answer
B) Disclose their licensee status in writing
Under Vermont law, a real estate licensee who intends to purchase a listed property must disclose their status as a licensed real estate professional in writing to the seller prior to or at the time of making an offer. This written disclosure must be made directly to the seller (the client) so the seller is fully aware they are negotiating with a licensee. Failure to make this disclosure constitutes a violation of the duties of loyalty and disclosure and may result in disciplinary action by the Vermont Real Estate Commission. Commission approval is not required.
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Related Topics & Key Terms
Related Topics:
Key Terms:
Related Concepts
An agency relationship created when a principal's actions or words lead a third party to reasonably believe that an agent has authority, and the principal fails to correct this belief.
An agency relationship created when a principal approves or accepts an agent's previously unauthorized actions, effectively granting authority after the fact.
The legal requirement for real estate agents to inform all parties about who they represent in a transaction, typically provided at first substantive contact.
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