Agency
In North Carolina, 'dual agency' with written informed consent means the broker:
AMust withdraw from representing one party
BMay represent both the buyer and seller, but with reduced duties to both✓ Correct
CMust refer one party to another broker
DHas no fiduciary duties to either party
Explanation
With written informed consent, a North Carolina broker may represent both buyer and seller in the same transaction as a dual agent. However, the broker's duties to each party are limited.
Related North Carolina Agency Questions
- A North Carolina buyer's agent owes which of the following fiduciary duties to the buyer?
- A dual agent in North Carolina must obtain informed written consent from:
- A NC buyer's agent who negotiates the purchase price of a property directly benefits from which fiduciary duty being properly exercised?
- Which document in North Carolina establishes the seller's agency relationship and authorizes the broker to market the property?
- Which statement is TRUE regarding material facts in North Carolina real estate?
- A NC listing broker whose seller is about to sell a property with a defective septic system without disclosing it to the buyer should:
- A listing broker in NC is legally obligated to present all written offers to the seller:
- A subagent in North Carolina real estate owes fiduciary duties to:
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