A training instructor in New Bern is sorting out a file issue involving buyer agency agreements and the written-agreement deadline. Which statement best applies under current North Carolina law?
Correct Answer
D) North Carolina permits a broker to work with a buyer on an oral basis initially, but any buyer agency agreement must be express, in writing, and signed no later than the time an offer is made.
North Carolina permits a broker to work with a buyer on an oral basis initially, but any buyer agency agreement must be express, in writing, and signed no later than the time an offer is made.
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Related Topics & Key Terms
Key Terms:
Related Concepts
An agency relationship created by a clear, explicit agreement between the principal and agent, either orally or in writing.
The highest legal obligation of trust and confidence owed by an agent to their principal, requiring the agent to act solely in the principal's best interest.
An agency relationship where the agent agrees to act on behalf of the principal without receiving compensation.
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