Agency
A NC listing broker who learns during a showing that the property has a significant structural issue discovered by the inspector for a different pending offer must:
AKeep it confidential to protect the seller's position
BDisclose the material defect to subsequent buyers as a material fact✓ Correct
CDisclose only if asked by subsequent buyers
DWait until the first contract terminates before disclosing
Explanation
Once a material defect becomes known to the listing broker, it must be disclosed to all subsequent potential buyers regardless of how it was discovered, as it is a material fact.
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Key Terms to Know
Listing Agreement
A contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
AgencyA 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.
Fiduciary DutyThe highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
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