A provisional broker in Wilmington is preparing an exam-prep note on WWREA at first substantial contact. Which statement best applies under current North Carolina law?
Correct Answer
C) The WWREA brochure is a North Carolina agency disclosure tool, not a substitute for the later written agency agreement required in some relationships.
The WWREA brochure is a North Carolina agency disclosure tool, not a substitute for the later written agency agreement required in some relationships.
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Related Topics & Key Terms
Key Terms:
Related Concepts
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.
A relationship where a listing broker authorizes other brokers to act as agents of the seller, extending the seller's agency relationship to cooperating brokers.
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