Alabama License LawIntermediateAlabama Exam
When must an Alabama licensee provide agency disclosure to a prospective buyer?
AAt closing
BBefore the buyer signs any contract, in most cases
CAt the first substantive contact with the buyerCorrect
DOnly when the buyer asks
Why At the first substantive contact with the buyer Is Correct
Answer C: At the first substantive contact with the buyer
Alabama law requires licensees to provide written agency disclosure at the first substantive contact with a prospective buyer or seller. This ensures parties understand who the agent represents before any significant discussions occur.
Key Alabama License Law Terms in This Question
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Key Terms to Know
Agency
A legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
Buyer's AgentA real estate licensee who represents the buyer's interests in a transaction, owing fiduciary duties to the buyer.
Seller's Agent (Listing Agent)A real estate licensee who represents the seller's interests, markets the property, and owes fiduciary duties to the seller.
State-Specific Concepts
License Law
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