Agency
Which document in New Hampshire formally establishes a buyer agency relationship?
AThe MLS listing agreement
BThe purchase and sale agreement
CA written buyer-broker agreement✓ Correct
DThe agency disclosure form alone
Explanation
A written buyer-broker agreement (also called a buyer agency agreement) formally establishes the agency relationship between the buyer and the broker, including duties, compensation, and duration.
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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.
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.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
State-Specific Concepts
Disclosure Requirements
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