In NC, a listing broker who also brings a buyer and represents both parties without proper consent is guilty of:
Why Undisclosed dual agency — a violation of license law Is Correct
Answer B: Undisclosed dual agency — a violation of license law
Exam Tip: Agency
Agency questions are among the most tested on the exam. Focus on the difference between client and customer, and memorize the fiduciary duties (OLD CAR). Watch for questions that try to blur the line between a general agent and a special agent.
Key Agency Terms in This Question
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Related North Carolina Questions
- In North Carolina, 'dual agency' with written informed consent means the broker:Agency
- In North Carolina, 'informed consent' in a dual agency situation requires:Agency
- A dual agent in North Carolina must obtain informed written consent from:Agency
- A North Carolina broker who provides services to a buyer without a written buyer agency agreement is acting as:Agency
- Under NC license law, a broker must provide a written agency agreement before performing which service?North Carolina License Law
- A broker in NC who represents both a buyer and seller and fails to disclose this dual agency relationship prior to entering into a binding contract has violated:North Carolina License Law
Key Terms to Know
A 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.
Seller's Agent (Listing Agent)A real estate licensee who represents the seller's interests, markets the property, and owes fiduciary duties to the seller.
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.
State-Specific Concepts
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