Sarah is a Wyoming licensee who has just met a prospective buyer, Tom, at an open house. Tom asks Sarah about the neighborhood and expresses interest in scheduling a showing of the listed property. At what point is Sarah required to provide Tom with a written agency disclosure under Wyoming law?
Correct Answer
B) At first substantial contact with Tom, which has already occurred at the open house
Under the Wyoming Agency Disclosure Act (W.S. 33-28-301 et seq.) and WREC Rules, a licensee must provide written agency disclosure at 'first substantial contact' with a prospective buyer or seller. Discussing the property and neighborhood at an open house constitutes first substantial contact, triggering the disclosure obligation immediately — not at a later contractual stage.
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Related Topics & Key Terms
Key Terms:
Related Concepts
The legal obligation to reveal information that could affect a party's decision to enter into or the terms of a real estate transaction.
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.
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