A prospective buyer walks into a real estate office in Manchester, NH, and begins discussing her interest in purchasing a home with a salesperson at the front desk. The salesperson has not yet identified which agent will work with this buyer. Under RSA 331-A:25-b, when must the Agency Disclosure Form be provided to this buyer?
Correct Answer
B) At this first substantive contact, during the current conversation
RSA 331-A:25-b requires the Agency Disclosure Form to be provided at the first substantive contact. A walk-in conversation in which a prospective buyer discusses her interest in purchasing a home is substantive contact — it involves specific transaction-related discussion. The disclosure obligation is triggered immediately, during this current conversation, not at some later point in the process.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A legal relationship in which one person (the agent) is authorized to act on behalf of another person (the principal) in business transactions with third parties.
The legal ending of an agency relationship, which can occur through completion, expiration, mutual agreement, breach, death, incapacity, or bankruptcy of either party.
The fiduciary obligation to protect a client's private information and not disclose it to third parties without permission, surviving even after the agency relationship ends.
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