Agency
In Kansas, what disclosures must a real estate broker make at first substantive contact with a consumer?
AThe broker's commission rate
BThe broker's agency status — whom they represent (seller, buyer, both, or neither as transaction broker) — as required by Kansas license law and agency disclosure obligations✓ Correct
CThe broker's years of experience
DAll prior sales in the neighborhood
Explanation
Kansas licensees must disclose their agency status (who they represent) at the first substantive contact with consumers who are not already their clients, so consumers understand whose interests the agent serves.
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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.
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.
Math Concepts
State-Specific Concepts
License Law
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