A training instructor in Boone is preparing an exam-prep note on WWREA at first substantial contact. Which statement best applies under current North Carolina law?
Correct Answer
B) At first substantial contact with a prospective buyer or seller, a broker must provide the Working With Real Estate Agents brochure, put the broker's name and license number on it, review it, and determine the contemplated relationship.
At first substantial contact with a prospective buyer or seller, a broker must provide the Working With Real Estate Agents brochure, put the broker's name and license number on it, review it, and determine the contemplated relationship.
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Related Topics & Key Terms
Key Terms:
Related Concepts
An agency relationship created when a principal approves or accepts an agent's previously unauthorized actions, effectively granting authority after the fact.
The legal requirement for real estate agents to inform all parties about who they represent in a transaction, typically provided at first substantive contact.
A legal relationship in which one person (the agent) is authorized to act on behalf of another person (the principal) in business transactions with third parties.
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