A closing-file reviewer in Huntersville 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) A provisional broker providing buyer agency services must do so through the affiliated BIC and cannot independently create side buyer-agency relationships outside that supervision.
A provisional broker providing buyer agency services must do so through the affiliated BIC and cannot independently create side buyer-agency relationships outside that supervision.
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Related Topics & Key Terms
Key Terms:
Related Concepts
An agency relationship created when a principal's actions or words lead a third party to reasonably believe that an agent has authority, and the principal fails to correct this belief.
An agency relationship created when a principal approves or accepts an agent's previously unauthorized actions, effectively granting authority after the fact.
The legal requirement for real estate agents to inform all parties about who they represent in a transaction, typically provided at first substantive contact.
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