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AgencyBuyer_agency_written_agreement_by_offerMEDIUM

A training instructor in Cary is answering a client question about 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.

Answer Options
A
Calling someone a customer automatically allows fiduciary promises without writing under current North Carolina rules
B
Customer status eliminates all agency disclosure duties under current North Carolina rules under current North Carolina rules
C
A broker may secretly act as buyer agent while telling the seller the buyer is only a customer.
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.

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Deep Analysis of This Agency Question

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Related Topics & Key Terms

Key Terms:

agency_disclosurebuyer_agencybuyer_agency_written_agreement_by_offercustomer_statusdifficulty_3nc_agency_brokerage_relationshipsnc_statenorth_carolinascenario_traps_edge_cases_and_enforcement

Related Concepts

The legal requirement for real estate agents to inform all parties about who they represent in a transaction, typically provided at first substantive contact.

A legal relationship in which one person (the agent) is authorized to act on behalf of another person (the principal) in business transactions with third parties.

The legal ending of an agency relationship, which can occur through completion, expiration, mutual agreement, breach, death, incapacity, or bankruptcy of either party.

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