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A closing-file reviewer in Raleigh is sorting out a file issue involving compensation authorization, disclosure, and limits. Which statement best applies under current North Carolina law?

Correct Answer

D) Compensation arrangements with principals should be disclosed in the required written agency agreement.

Compensation arrangements with principals should be disclosed in the required written agency agreement.

Answer Options
A
A buyer agent may wait until closing to mention how the agent expects to be paid.
B
An oral promise about compensation is enough even when a written agency agreement is required.
C
Broker compensation never needs to be addressed in a written agency agreement.
D
Compensation arrangements with principals should be disclosed in the required written agency agreement.

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Related Topics & Key Terms

Key Terms:

written agency agreementcompensation disclosurebuyer agencyNCREC rulesprincipal disclosure
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