Agency
In North Carolina, 'informed consent' in a dual agency situation requires:
AOnly verbal acknowledgment from both parties
BWritten acknowledgment from both the buyer and seller after full disclosure✓ Correct
CNCREC approval before proceeding
DOnly the seller's written consent
Explanation
North Carolina requires both the buyer and seller to provide written informed consent to dual agency after the broker fully discloses the implications of that relationship.
People Also Study
Related North Carolina Questions
- In North Carolina, 'dual agency' with written informed consent means the broker:Agency
- In a dual agency situation in North Carolina, a broker may NOT:Agency
- A dual agent in North Carolina must obtain informed written consent from:Agency
- North Carolina requires mandatory agency disclosure. This disclosure must occur:North Carolina License Law
- Which document in North Carolina establishes the seller's agency relationship and authorizes the broker to market the property?Agency
- Which agency regulates real estate licenses in North Carolina?North Carolina License Law
- Under North Carolina law, buyer agency agreements must be:North Carolina License Law
- Which of the following activities requires a real estate license in North Carolina?North Carolina License Law
Key Terms to Know
Agency
A legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same 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.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
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 →