A New Hampshire licensee, Rachel, meets a prospective buyer at a community event and hands him a business card. The buyer asks Rachel a few general questions about the real estate market in the Concord area, but no specific property is discussed. Two days later, the buyer calls Rachel and asks detailed questions about a specific listing, including the seller's motivation and whether the price is negotiable. At which point was Rachel required to provide the Agency Disclosure Form?
Correct Answer
B) When the buyer called and began asking detailed questions about the specific listing
Under RSA 331-A:25-b, the disclosure obligation is triggered at 'first substantive contact.' The initial exchange at the community event — handing over a business card and discussing general market conditions — does not constitute substantive contact because no specific property or client needs were discussed. However, the follow-up phone call, in which the buyer asked detailed questions about a specific listing including the seller's motivation and price flexibility, clearly constitutes first substantive contact, triggering the immediate obligation to provide the Agency Disclosure Form.
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Related Topics & Key Terms
Key Terms:
Related Concepts
In real estate, a client is someone to whom the agent owes fiduciary duties through an agency relationship, while a customer is a third party to whom the agent owes only honesty and fair dealing.
An arrangement where a brokerage assigns separate agents within the firm to represent the buyer and seller in the same transaction, allowing each client to have dedicated representation.
A situation where a single agent or brokerage represents both the buyer and the seller in the same real estate transaction.
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