Angela, a Nevada salesperson, meets a seller at an open house and begins discussing the property's value and the seller's motivation for moving. Angela has not yet provided any disclosure form. Under Nevada law, which of the following best describes Angela's obligation at this point?
Correct Answer
A) Angela must provide the Duties Owed disclosure form before any further substantive discussion
Under NRS 645.252 and NAC 645.637, the Duties Owed disclosure must be provided at the first substantive contact with a prospective seller or buyer. Discussing property value and the seller's motivation constitutes substantive contact, meaning Angela should have already provided the form. She must do so before proceeding further with substantive discussions.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A non-agency relationship where the broker facilitates a real estate transaction without representing either party, owing limited duties of honesty, fairness, and competence to both.
The legal principle that holds a broker responsible for the actions of their agents and employees performed within the scope of the agency relationship.
An agency relationship created when a principal's actions or words lead a third party to reasonably believe that an agent has authority, and the principal fails to correct this belief.
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