Under Nevada law, when must a licensee first provide the Duties Owed by a Nevada Real Estate Licensee disclosure form to a prospective buyer?
Correct Answer
D) At the first substantive contact with the prospective buyer
Under NAC 645.637 and NRS 645.252, a licensee must provide the Duties Owed disclosure form at the first substantive contact with a prospective buyer or seller. 'First substantive contact' means the point at which the licensee begins discussing specific real estate needs, financial qualifications, or property details — not merely a casual introduction.
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Related Topics & Key Terms
Key Terms:
Related Concepts
The extent of power and actions an agent is authorized to perform on behalf of the principal, as defined by the agency agreement.
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.
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