Agency
When must a Kansas licensee provide the 'Brokerage Relationships in Real Estate Transactions' disclosure?
AOnly at closing
BAt the first substantive discussion about a specific property✓ Correct
CAfter an offer is accepted
DOnly when requested by the buyer
Explanation
Kansas law requires licensees to provide the brokerage relationship disclosure at the first substantive discussion about a specific property, so parties understand the agent's role.
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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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