Arizona License LawIntermediateArizona Exam
Under Arizona Commissioner's Rules, a licensee must provide a written agency disclosure to a client:
AOnly when the client asks for it in writing
BAt the first substantive contact, before any confidential information is exchangedCorrect
CAt the time the purchase contract is signed
DOnly if the transaction involves a purchase price above $100,000
Why At the first substantive contact, before any confidential information is exchanged Is Correct
Answer B: At the first substantive contact, before any confidential information is exchanged
Arizona requires written agency disclosure at the first substantive contact — before any confidential information is exchanged — so the client understands whom the licensee represents.
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.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
Option ContractA contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
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