Under Idaho law, which document must a licensee provide to a potential buyer or seller at the time of first substantive contact to comply with the Idaho Agency Disclosure Act?
Correct Answer
B) The IREC-approved Agency Disclosure Brochure
Idaho Code § 54-2085 requires that a licensee provide the IREC-approved Agency Disclosure Brochure to potential buyers and sellers at the time of first substantive contact. This brochure explains the different types of agency relationships available in Idaho and must be provided before the relationship progresses further.
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Related Topics & Key Terms
Key Terms:
Related Concepts
The legal obligation to reveal information that could affect a party's decision to enter into or the terms of a real estate transaction.
The extent of power and actions an agent is authorized to perform on behalf of the principal, as defined by the agency agreement.
The fiduciary obligations owed by a listing agent to the seller, including marketing the property, presenting all offers, and protecting the seller's confidential information.
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- → A Vermont licensee is asked about a designated agency firm appoints separate agents for buyer and seller. What is the best answer?
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