A Washington real estate licensee is working with a buyer who is looking for investment properties. The buyer has not signed a buyer-broker agreement. During their first meeting, the buyer shares his financial goals and asks the licensee to explain the difference between representing him as a client versus working with him as a customer. Under RCW 18.86, what is the licensee's FIRST obligation at this meeting?
Correct Answer
C) Provide the buyer with the agency disclosure pamphlet at this first substantive contact
Under RCW 18.86.030, the licensee's first obligation at this meeting is to provide the agency disclosure pamphlet, as this first meeting constitutes first substantive contact. The buyer has discussed his financial goals and asked about agency relationships — this is clearly substantive contact about a real estate matter. The pamphlet must be provided at this point, before or concurrent with any explanation of agency types.
Why This Is the Correct Answer
Why the Other Options Are Wrong
Deep Analysis of This Agency Question
Background Knowledge for Agency
Real World Application in Agency
Common Mistakes to Avoid on Agency Questions
Related Topics & Key Terms
Key Terms:
More Agency Questions
Under agency law in Nevada, dual agency is:
A South Dakota agent who represents a buyer learns that the seller is facing foreclosure. The agent should:
Oregon broker Olivia is working with buyer couple Derek and Sarah. During their first meeting, Derek and Sarah ask Olivia who she represents in the transaction. Under Oregon law, when is Olivia required to provide a written agency disclosure to Derek and Sarah?
Missouri continuing education (CE) requirements for license renewal include:
A Louisiana salesperson asks about a person engages professional advice and services of a licensee as an agent. What is the best answer?
- → How is implied agency most commonly created?
- → A listing broker owes fiduciary duties to which party?
- → Information about the lowest price a seller will accept is:
- → A buyer's agent in New York owes the seller:
- → The Wisconsin exclusive right-to-sell listing agreement guarantees:
- → When a licensed real estate agent wishes to purchase a property listed with their brokerage for their own account, what must they do?
- → Oregon broker James lists a home for sellers Greg and Helen. After the listing agreement is signed, buyer Natalie contacts James directly and says she wants to make an offer on the property without using her own agent. James would like to enter into a disclosed limited agency arrangement. Which of the following actions is required before James can legally proceed as a disclosed limited agent?
- → Utah recognizes which agency relationships?
- → Agency terminates by all of the following EXCEPT:
- → New Jersey continuing education requirements include: