A transaction coordinator in Cary 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
A) A North Carolina buyer agency agreement should be signed before or at the time the offer is made, not after the buyer has already become contractually bound.
A North Carolina buyer agency agreement should be signed before or at the time the offer is made, not after the buyer has already become contractually bound.
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Related Topics & Key Terms
Key Terms:
Related Concepts
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.
A situation where a single agent or brokerage represents both the buyer and the seller in the same real estate transaction.
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