Agency
In Montana, which document must be provided to a buyer or seller at first substantive contact with a licensee?
AA listing agreement
BA buyer representation agreement
CThe Montana Broker Disclosure Form✓ Correct
DA dual agency consent form
Explanation
Montana requires licensees to provide and explain the Montana Broker Disclosure Form at the first substantive contact to inform consumers of available agency relationships.
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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.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
Seller's Agent (Listing Agent)A real estate licensee who represents the seller's interests, markets the property, and owes fiduciary duties to the seller.
State-Specific Concepts
Disclosure Requirements
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