Agency
A real estate broker in NC may represent more than one buyer seeking the same property if:
AThe broker has been in business for at least 5 years
BFull written disclosure is made and informed written consent obtained from all buyer clients✓ Correct
CThe buyers are in different price ranges
DThe listing is from a different brokerage
Explanation
Representing competing buyers creates a conflict of interest. An NC broker may do so only with full disclosure of the conflict and written informed consent from all affected buyer clients who agree to proceed despite the potential conflict.
People Also Study
Related North Carolina Questions
- In North Carolina, 'dual agency' with written informed consent means the broker:Agency
- Under NC license law, can a broker represent a buyer and a seller in the same transaction if both consent?Agency
- A dual agent in North Carolina must obtain informed written consent from:Agency
- In North Carolina, 'informed consent' in a dual agency situation requires:Agency
Key Terms to Know
Lien
A financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate 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.
Study This Topic
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 →