Agency
North Carolina's 'Working with Real Estate Agents' disclosure brochure must be provided to a prospective buyer or seller:
AAt closing
BWhen the listing agreement is signed
CAt first substantial contact✓ Correct
DOnly if the consumer requests it
Explanation
The NC 'Working with Real Estate Agents' brochure must be presented to prospective buyers and sellers at first substantial contact to explain agency relationships.
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- In North Carolina, the Working with Real Estate Agents (WWREA) disclosure form must be provided to:North Carolina License Law
- When must a North Carolina licensee provide the 'Working with Real Estate Agents' brochure to a prospective buyer?Agency
- The 'Working with Real Estate Agents' brochure in North Carolina explains:Agency
- The North Carolina Residential Property and Owners Association Disclosure Statement (RPOADS) must be provided to buyers of:Contracts
- Under NC license law, a broker must provide the Working with Real Estate Agents disclosure at first substantial contact with:North Carolina License Law
- A NC broker who fails to provide the Working with Real Estate Agents (WWREA) disclosure at first substantial contact is subject to:Agency
- North Carolina requires mandatory agency disclosure. This disclosure must occur:North Carolina License Law
- The NC WWREA disclosure is required at first substantial contact. 'First substantial contact' is typically defined as:Agency
Key Terms to Know
Listing Agreement
A contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
AgencyA 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.
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