Agency
Designated agency in North Carolina means:
AOne broker represents both buyer and seller
BThe BIC designates different brokers in the same firm to represent buyer and seller separately✓ Correct
CA broker is designated by NCREC to handle a transaction
DAn attorney is designated to oversee the closing
Explanation
Designated agency allows a firm to designate separate brokers within the same office to represent the buyer and seller, avoiding the conflicts of dual agency.
Related North Carolina Agency Questions
- Under North Carolina rule, when must a buyer's agency agreement be in writing?
- Under NC real estate license law, a broker who represents themselves as having expertise they do not possess may be liable for:
- Under NC law, a real estate broker is an agent only if they have:
- When must a North Carolina licensee provide the 'Working with Real Estate Agents' brochure to a prospective buyer?
- When a real estate firm in NC represents a buyer client, all brokers in the firm are:
- The NC WWREA disclosure is required at first substantial contact. 'First substantial contact' is typically defined as:
- A NC listing broker who receives multiple offers simultaneously should:
- A North Carolina buyer's agent owes which of the following fiduciary duties to the buyer?
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