EstatePass
AgencyBuyer_agency_written_agreement_by_offerMEDIUM

A compliance reviewer in Greenville is preparing an exam-prep note 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.

Answer Options
A
An oral buyer agreement may include a six-month exclusivity period under current North Carolina rules
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.
C
Oral buyer agency allows the broker to charge a cancellation fee for using another agent.
D
A broker may orally promise exclusive representation and enforce it after the buyer makes an offer.

Why This Is the Correct Answer

Sign up free to unlock full analysis

Why the Other Options Are Wrong

Sign up free to unlock full analysis

Deep Analysis of This Agency Question

Sign up free to unlock full analysis

Background Knowledge for Agency

Sign up free to unlock full analysis
Sign up free to unlock full analysis

Real World Application in Agency

Sign up free to unlock full analysis

Common Mistakes to Avoid on Agency Questions

Sign up free to unlock full analysis

Related Topics & Key Terms

Key Terms:

buyer_agencybuyer_agency_written_agreement_by_offerdifficulty_3exclusive_nonexclusivenc_agency_brokerage_relationshipsnc_statenorth_carolinaoral_agencytiming_forms_exceptions_and_authority
Was this explanation helpful?

More Agency Questions

People Also Study

Agency Questions

Practice More Questions

Access 2,000+ practice questions and pass your real estate exam.

Start Practicing