A broker-in-charge in Greensboro is updating the policy manual on seller agency, listing agreements, and subagency. Which statement best applies under current North Carolina law?
Correct Answer
D) Written seller representation should be in place before the property is offered for sale through the broker.
Written seller representation should be in place before the property is offered for sale through the broker.
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Related Topics & Key Terms
Key Terms:
Related Concepts
The legal principle that holds a broker responsible for the actions of their agents and employees performed within the scope of the agency relationship.
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.
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- → A Vermont licensee is asked about a designated agency firm appoints separate agents for buyer and seller. What is the best answer?
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- → In Vermont, a seller receives another offer before closing. Which statement is correct?
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