A broker-in-charge in Mooresville is answering a client question about dual agency and designated dual agency. Which statement best applies under current North Carolina law?
Correct Answer
C) A provisional broker may be a designated agent only within the affiliated firm and under the supervision structure permitted by the rules.
A provisional broker may be a designated agent only within the affiliated firm and under the supervision structure permitted by the rules.
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Related Topics & Key Terms
Key Terms:
Related Concepts
An agency relationship where the agent agrees to act on behalf of the principal without receiving compensation.
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.
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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 firm has not elected designated agency. Which statement is correct?
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