A buyer representative in Wilmington 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
C) The buyer agency writing deadline is triggered no later than the time one of the parties makes an offer to purchase, sell, rent, lease, or exchange real estate.
The buyer agency writing deadline is triggered no later than the time one of the parties makes an offer to purchase, sell, rent, lease, or exchange real estate.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A situation where a single agent or brokerage represents both the buyer and the seller in the same real estate transaction.
An agency relationship created by a clear, explicit agreement between the principal and agent, either orally or in writing.
The highest legal obligation of trust and confidence owed by an agent to their principal, requiring the agent to act solely in the principal's best interest.
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