Under North Dakota Administrative Code Title 70, which of the following is NOT a required element of a valid agency disclosure provided to a consumer at first substantive contact?
Correct Answer
B) The licensee's commission rate for the transaction
The commission rate is NOT a required element of the agency disclosure form under North Dakota Administrative Code Title 70. The agency disclosure is focused on informing consumers about the nature of agency relationships, who the licensee represents, and the consumer's options — not on the financial terms of the licensee's compensation. Commission rates are addressed in listing agreements or buyer agency agreements, not in the agency disclosure form.
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