Under Montana law, when must a real estate licensee provide agency disclosure to a prospective client?
Correct Answer
B) At the first substantive contact with the prospective client
Under MCA 37-51-314, Montana licensees are required to provide written agency disclosure at the first substantive contact with a prospective buyer or seller. 'First substantive contact' generally means the point at which meaningful discussion about a specific property or the client's real estate needs begins. Early disclosure ensures consumers understand whom the licensee represents and protects them from unknowingly sharing confidential information with an agent who may not be acting in their best interest.
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Related Topics & Key Terms
Related Topics:
Key Terms:
Related Concepts
An agency relationship created by a clear, explicit agreement between the principal and agent, either orally or in writing.
The highest legal obligation of trust and confidence owed by an agent to their principal, requiring the agent to act solely in the principal's best interest.
An agency relationship where the agent agrees to act on behalf of the principal without receiving compensation.
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