Agency
A NC broker who represents a seller is approached by the seller's neighbor who wants to buy the property. The broker should:
AImmediately represent both parties without further steps
BDisclose the potential dual agency situation to both parties and obtain written consent before proceeding✓ Correct
CRefer the neighbor to another broker without disclosure
DAccept the neighbor's offer without telling the seller about the agency conflict
Explanation
When the listing broker's buyer is a known individual, dual agency must be disclosed and written consent obtained from both buyer and seller before the broker can represent both parties.
Related North Carolina Agency Questions
- In North Carolina, the term 'broker-in-charge' (BIC) refers to:
- In NC, who is ultimately responsible for completing the Working with Real Estate Agents disclosure?
- The 'Working with Real Estate Agents' brochure in North Carolina explains:
- In NC, an agent's duty of 'loyalty' is breached when the agent:
- A 'seller's agent' in NC owes the seller the fiduciary duty of loyalty, which means the agent must:
- A subagent in North Carolina real estate owes fiduciary duties to:
- When a NC buyer's agent presents an offer on behalf of their buyer, they are fulfilling which fiduciary duty?
- Under NC agency law, if a listing broker's associate makes a material misrepresentation to a buyer, the broker-in-charge may be held responsible under the principle of:
Practice More North Carolina Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free North Carolina Quiz →