North Carolina License Law
A North Carolina broker who receives compensation from both buyer and seller in the same transaction without disclosure to both parties has committed:
AAn acceptable industry practice
BAn undisclosed dual compensation violation✓ Correct
CA violation only if the total exceeds $5,000
DA minor clerical error
Explanation
Receiving compensation from both sides of a transaction without full disclosure and consent from all parties is a violation of NC license law and the duty of loyalty.
Related North Carolina North Carolina License Law Questions
- A broker-in-charge (BIC) in North Carolina has which of the following additional CE requirements?
- A NC broker wishing to become a 'broker-in-charge' (BIC) must satisfy which requirements?
- Under NC license law, when a broker receives a copy of the signed listing agreement, they must provide the seller with a copy:
- Under NC license law, a broker who acts as both principal (buying for themselves) and agent must disclose this dual role:
- A NC real estate salesperson (provisional broker) is compensated by:
- A NC broker who acts as a 'net lister' — where the seller receives a fixed amount and the broker keeps the excess as commission — is engaged in:
- What is the maximum civil penalty the NCREC may impose on an unlicensed person who engages in real estate brokerage in NC?
- Under NC license law, a broker's license is automatically suspended if the broker:
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 →