Sarah is a licensed broker in Indiana who works for Hoosier Realty. She meets a potential buyer, Marcus, at an open house for the first time. According to Indiana law, when must Sarah provide Marcus with the Indiana written agency disclosure?
Correct Answer
A) At first substantive contact with Marcus
Under IC 25-34.1-10, Indiana law requires licensees to provide the state-mandated written agency disclosure (the written agency disclosure) to all parties at first substantive contact. An open house meeting where real estate matters are discussed qualifies as first substantive contact, triggering the disclosure requirement immediately.
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Related Topics & Key Terms
Key Terms:
Related Concepts
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.
A practice where the agent or brokerage represents only one party in a transaction — either the buyer or the seller, but never both.
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