An office manager in Cary is updating the policy manual on buyer agency agreements and the written-agreement deadline. Which statement best applies under current North Carolina law?
Correct Answer
A) The buyer agency writing deadline is triggered no later than the time one of the parties makes an offer to purchase, sell, rent, lease, or exchange real estate.
The buyer agency writing deadline is triggered no later than the time one of the parties makes an offer to purchase, sell, rent, lease, or exchange real estate.
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Related Topics & Key Terms
Key Terms:
Related Concepts
The fiduciary obligation to protect a client's private information and not disclose it to third parties without permission, surviving even after the agency relationship ends.
In real estate, a client is someone to whom the agent owes fiduciary duties through an agency relationship, while a customer is a third party to whom the agent owes only honesty and fair dealing.
An arrangement where a brokerage assigns separate agents within the firm to represent the buyer and seller in the same transaction, allowing each client to have dedicated representation.
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