Maria is a Nevada salesperson affiliated with Sunrise Realty. She meets with the Johnsons, a couple looking to purchase their first home, and begins discussing their housing needs and budget in detail. According to Nevada law, what must Maria do at this point?
Correct Answer
D) Provide the Johnsons with the Duties Owed by a Nevada Real Estate Licensee form
Under NRS 645.252 and NAC 645.637, at the first substantive contact with a prospective buyer, Maria must provide the 'Duties Owed by a Nevada Real Estate Licensee' form. Discussing housing needs and budget constitutes a substantive contact, triggering this mandatory disclosure requirement.
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Related Topics & Key Terms
Key Terms:
Related Concepts
The fiduciary obligations owed by a listing agent to the seller, including marketing the property, presenting all offers, and protecting the seller's confidential information.
A practice where the agent or brokerage represents only one party in a transaction — either the buyer or the seller, but never both.
A relationship where a listing broker authorizes other brokers to act as agents of the seller, extending the seller's agency relationship to cooperating brokers.
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