An office manager in Boone is training a new associate on dual agency and designated dual agency. Which statement best applies under current North Carolina law?
Correct Answer
A) The broker-in-charge plays an important role in designated dual agency supervision and in handling confidentiality within the firm.
The broker-in-charge plays an important role in designated dual agency supervision and in handling confidentiality within the firm.
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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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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?
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- → In Vermont, a firm has not elected designated agency. Which statement is correct?
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- → 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?
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