Broker Lisa calls a homeowner named Mr. Chen to discuss listing his property. During the call, they discuss the general market conditions, the approximate value of Mr. Chen's home, and the services Lisa's firm provides. Mr. Chen has not yet signed a listing agreement. Under Indiana law, which of the following is true regarding the Agency Disclosure Form?

Correct Answer

B) Lisa must provide the Agency Disclosure Form before or during this telephone conversation, as it constitutes first substantive contact

Under IC 25-34.1-10, 'first substantive contact' includes the first discussion of specific real property, its value, or the seller's needs — regardless of whether a formal agreement has been signed. The telephone conversation with Mr. Chen about his property's approximate value and listing services constitutes first substantive contact. Lisa is required to provide the Agency Disclosure Form at that point, which in a phone context means as soon as practicable (before or at the time of the conversation, or at the first in-person meeting if the call initiates the relationship).