An exam-prep coach in Fayetteville is preparing an exam-prep note on seller agency, listing agreements, and subagency. Which statement best applies under current North Carolina law?
Correct Answer
D) A seller agency relationship in North Carolina must be express and in writing from the outset, typically through a written listing agreement.
A seller agency relationship in North Carolina must be express and in writing from the outset, typically through a written listing agreement.
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Related Topics & Key Terms
Key Terms:
Related Concepts
An agency relationship created by the conduct or actions of the parties rather than by a written or oral agreement.
The legal obligation to reveal information that could affect a party's decision to enter into or the terms of a real estate transaction.
The extent of power and actions an agent is authorized to perform on behalf of the principal, as defined by the agency agreement.
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