Under Delaware law, when must a licensee provide agency disclosure to a prospective client?
Correct Answer
B) At the first substantive contact with the prospective client
Under Delaware law (24 Del. C. § 2973), a licensee must provide the required agency disclosure at the first substantive contact with a prospective buyer or seller, before any confidential information is exchanged.
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Related Topics & Key Terms
Related Topics:
Key Terms:
Related Concepts
An agency relationship created when a principal approves or accepts an agent's previously unauthorized actions, effectively granting authority after the fact.
The legal requirement for real estate agents to inform all parties about who they represent in a transaction, typically provided at first substantive contact.
A legal relationship in which one person (the agent) is authorized to act on behalf of another person (the principal) in business transactions with third parties.
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