Broker Chen represents the seller of a condominium unit. Buyer Patricia contacts Broker Chen by phone to ask general questions about the real estate market in Boston. At what point is Broker Chen required to provide Patricia with the Massachusetts mandatory written agency disclosure form?
Correct Answer
D) At the first in-person meeting where they discuss a specific property
Under 254 CMR 3.00, the written agency disclosure is triggered by the 'first personal meeting to discuss a specific property.' A general phone call about market conditions does not meet this threshold. The obligation arises when Broker Chen meets Patricia in person to discuss a specific property, at which point the written form must be provided.
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Related Topics & Key Terms
Key Terms:
Related Concepts
An agency relationship created by the conduct or actions of the parties rather than by a written or oral agreement.
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.
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