Agency
In Indiana, written agency disclosure must be provided to a consumer:
AOnly at the time of closing
BAt the first substantive contact before providing brokerage services✓ Correct
COnly when representing a buyer
DWithin 3 days after first showing a property
Explanation
Indiana law requires brokers to provide a written disclosure of agency relationship at the first substantive contact with a consumer, before providing real estate brokerage services.
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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.
Fiduciary DutyThe highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
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