Arizona License LawIntermediateArizona Exam
Arizona law requires a real estate licensee to provide a written agency disclosure to a prospective buyer or seller at which point?
AAfter they sign the purchase contract
BAt the first substantive contact with the prospectCorrect
CWhen the offer is submitted to the other party
DAt the time of closing
Why At the first substantive contact with the prospect Is Correct
Answer B: At the first substantive contact with the prospect
Arizona requires licensees to present and obtain acknowledgment of the Agency Disclosure form at the first substantive contact—the first interaction where real estate services are discussed or where the prospect could reasonably believe the agent is working for them.
Key Arizona 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.
Earnest MoneyA deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
State-Specific Concepts
Disclosure Requirements
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