A listing broker in Asheville 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
B) An oral buyer relationship in North Carolina cannot bind the buyer for a period of time or restrict the buyer's right to work with other agents.
An oral buyer relationship in North Carolina cannot bind the buyer for a period of time or restrict the buyer's right to work with other agents.
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Related Topics & Key Terms
Key Terms:
Related Concepts
An agency relationship where the agent agrees to act on behalf of the principal without receiving compensation.
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.
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