Agency
In Nevada, the required agency disclosure must be provided to a prospective buyer or seller:
AAt the time of closing
BBefore engaging in substantive discussions about a specific property✓ Correct
COnly after a listing agreement is signed
DOnly when dual agency is anticipated
Explanation
Nevada requires the agency disclosure form to be provided before substantive discussions about a specific property so that consumers understand the licensee's role and obligations.
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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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