Agency
What Idaho document must an agent provide to all parties at first substantial contact?
APurchase agreement
BBroker Representation Disclosure (also called the Agency Disclosure)✓ Correct
CProperty condition disclosure
DComparative market analysis
Explanation
Idaho law requires licensees to provide the Broker Representation Disclosure (agency disclosure) to all parties at or before first substantive contact, which describes the different agency relationships available.
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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.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
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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