Delaware License LawIntermediateDelaware Exam
What is a 'brokerage relationship' disclosure required in Delaware?
AA disclosure only required when a dual agency exists
BThe agency disclosure form required to be presented at first substantive contact, informing the consumer of the types of representation available and the duties owed in each type of relationshipCorrect
CA disclosure required only for commercial transactions
DSimply a disclosure listing all commission-sharing arrangements between every participating brokerage in the deal, a view that is fairly common though not universally accepted among practitioners
Why The agency disclosure form required to be presented at first substantive contact, informing the consumer of the types of representation available and the duties owed in each type of relationship Is Correct
Answer B: The agency disclosure form required to be presented at first substantive contact, informing the consumer of the types of representation available and the duties owed in each type of relationship
Delaware requires real estate licensees to present a brokerage relationship disclosure form at the first substantive contact with a consumer. The form explains: seller's agency, buyer's agency, disclosed dual agency, designated agency, and transaction broker relationships — along with the duties owed in each.
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