Under NY Real Property Law §443, what constitutes 'first substantive contact' requiring agency disclosure?
Correct Answer
D) Communication involving real estate services, property information, or market conditions
NY Real Property Law §443 defines substantive contact as communication involving real estate services, property-specific information, market analysis, or other professional real estate matters that could influence a consumer's real estate decisions.
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Which of the following most accurately describes the content required in the agency disclosure form under NY Real Property Law §443?
- → Under New York's agency disclosure law, which of the following constitutes 'first substantive contact' that would trigger the disclosure requirement?
- → Under NY Real Property Law §443, at what point must a real estate agent provide the agency disclosure form to a prospective buyer during an initial property visit?
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- → In New York, what happens if a broker acts as a dual agent without obtaining proper written consent from both parties?
- → In New York real estate law, what is dual agency?
- → In New York, what form of consent is required for dual agency?
- → When acting as a dual agent in New York, which type of information can an agent share with both parties?
- → Under New York law, what does 'informed consent' mean in the context of dual agency?
- → A New York real estate broker wants to represent both the buyer and seller in a transaction. What is required under New York law before the broker can act as a dual agent?
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Previous Question
A licensed salesperson is approached by an acquaintance who mentions they may want to sell their home and asks a few questions about the real estate process. Under NY Real Property Law §443, which factor determines whether the salesperson must provide an agency disclosure form?
Next Question
Broker Maria represents buyer Jennifer in Buffalo. During their property search, they encounter seller's agent Tom at a showing. Tom asks Jennifer about her financing pre-approval and timeline. Jennifer answers directly. What disclosure obligation does Tom have in this situation?