North Carolina does NOT recognize which type of agency?
Question & Answer
Review the question and all answer choices
Buyer agency
Buyer agency is fully recognized in North Carolina. Licensees can represent buyers with all fiduciary duties including loyalty, confidentiality, obedience, disclosure, accounting, and reasonable care.
Seller agency
Seller agency is a fundamental and fully recognized agency relationship in North Carolina. Listing agents owe traditional fiduciary duties to sellers.
Dual agency
Dual agency is recognized in North Carolina but requires full disclosure and written consent from all parties involved in the transaction.
Transaction brokerage
Why is this correct?
North Carolina specifically eliminated transaction brokerage as a recognized agency type. Licensees must operate as either buyer's agents, seller's agents, or disclosed dual agents. Transaction brokerage is not recognized in NC law, making it the correct answer.
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