A closing-file reviewer in Concord is answering a client question about dual agency and designated dual agency. Which statement best applies under current North Carolina law?
Correct Answer
B) The purpose of designated dual agency is to allow separate affiliated agents to assist opposite sides while the firm remains in a dual agency posture.
The purpose of designated dual agency is to allow separate affiliated agents to assist opposite sides while the firm remains in a dual agency posture.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A relationship where a listing broker authorizes other brokers to act as agents of the seller, extending the seller's agency relationship to cooperating brokers.
A non-agency relationship where the broker facilitates a real estate transaction without representing either party, owing limited duties of honesty, fairness, and competence to both.
The legal principle that holds a broker responsible for the actions of their agents and employees performed within the scope of the agency relationship.
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In West Virginia, a WV licensee fails to disclose on the Commission agency relationship form whether the licensee represents the seller, buyer, or both. Which statement is correct?
In Vermont, a licensee owes fiduciary duties to a client. Which statement is correct?
- → A Vermont licensee is asked about a designated agency firm appoints separate agents for buyer and seller. What is the best answer?
- → In Vermont, a licensee has substantial contact with an unrepresented person before a showing. Which statement is correct?
- → In Vermont, a firm has not elected designated agency. Which statement is correct?
- → In Vermont, a designated agency firm appoints separate agents for buyer and seller. Which statement is correct?
- → A Vermont licensee is asked about a licensee has substantial contact with an unrepresented person before a showing. What is the best answer?
- → In Vermont, a seller receives another offer before closing. Which statement is correct?
- → In Vermont, a designated agency firm appoints or changes a designated agent. Which statement is correct?
- → A Vermont licensee is asked about a firm has not elected designated agency. What is the best answer?
- → In Vermont, a brokerage hosts an open house for unrepresented visitors. Which statement is correct?
- → In Vermont, a licensee buys or sells property on the licensee's own account. Which statement is correct?
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