A firm owner in Asheville 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
D) If a broker is only assisting a buyer as a customer and not as an agent, the broker still must follow WWREA and disclosure duties, but agency-specific promises should not be implied.
If a broker is only assisting a buyer as a customer and not as an agent, the broker still must follow WWREA and disclosure duties, but agency-specific promises should not be implied.
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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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