Agency
Under New York RPL section 443, the agency disclosure must be acknowledged by the buyer or seller. What does this acknowledgment signify?
AThe buyer or seller agrees to the disclosed agency arrangement
BThe buyer or seller acknowledges receipt of the disclosure form (not consent to the agency arrangement)✓ Correct
CThe buyer or seller waives their right to change the agency relationship later
DThe broker is authorized to act on the buyer's or seller's behalf
Explanation
The signature on New York's agency disclosure form is an acknowledgment of receipt — it merely confirms that the buyer or seller received and read the form. It does NOT constitute consent to any agency arrangement.
Related New York Agency Questions
- In New York, which of the following would constitute a breach of the agent's duty of 'confidentiality' to their buyer-client?
- Which fiduciary duty requires a seller's agent to keep the seller's motivation for selling confidential?
- A broker who earns a commission by bringing about a ready, willing, and able buyer at the listed price has fulfilled their obligation under which type of listing?
- A New York licensee is working with a buyer but has no written agreement. The licensee's relationship with the buyer is best described as:
- In New York, an agent who fails to present an offer to the seller because they personally believe it is too low is:
- In New York, a listing broker is showing their own company's listing to a buyer who is also represented by an agent in the same office. The brokerage is acting as:
- In New York, an agent who discovers a material defect in a property after the listing agreement is signed must:
- The duty of 'obedience' in a New York agency relationship requires the agent to:
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