Under the Wyoming Agency Disclosure Act, which of the following is NOT a required element of the written agency disclosure that a licensee must provide to a consumer?
Correct Answer
D) The licensee's commission rate and how it will be split between cooperating brokers
Under the Wyoming Agency Disclosure Act (W.S. 33-28-301 et seq.), the required written agency disclosure must inform the consumer of the type of agency relationship, the identity of the licensee and their brokerage, and the timing of the disclosure (at or before first substantial contact). The disclosure is NOT required to include the licensee's commission rate or commission-splitting arrangements with cooperating brokers. Commission information is a separate matter addressed in the listing or buyer representation agreement, not the agency disclosure form.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A non-agency relationship where the broker facilitates a real estate transaction without representing either party, owing limited duties of honesty, fairness, and competence to both.
The legal principle that holds a broker responsible for the actions of their agents and employees performed within the scope of the agency relationship.
An agency relationship created when a principal's actions or words lead a third party to reasonably believe that an agent has authority, and the principal fails to correct this belief.
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