Agency
Indiana law requires that the agency relationship be disclosed in the first written communication directed to a consumer. 'First written communication' most commonly refers to:
AAny MLS printout given to a buyer
BThe first substantive written communication discussing the consumer's real estate needs or specific properties✓ Correct
CThe purchase contract
DA listing flyer at an open house
Explanation
The agency disclosure must be provided at or before the first substantive contact, which includes the first written communication that discusses the consumer's needs, preferences, financial capacity, or motivation regarding specific real estate transactions.
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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.
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.
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.
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