The agency relationship between a listing broker and seller in North Carolina is created by:
Why A written listing agreement signed by the seller Is Correct
Answer B: A written listing agreement signed by the seller
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
- Which document in North Carolina establishes the seller's agency relationship and authorizes the broker to market the property?Agency
- A North Carolina broker who provides services to a buyer without a written buyer agency agreement is acting as:Agency
- Under NC law, an agency relationship created through the conduct of the parties (rather than a written agreement) is called:Agency
- Which agency relationship is created when a North Carolina broker shows a buyer a property that the broker also has listed for the seller?Agency
- Under a North Carolina listing agreement, the broker earns a commission when:Contracts
- Which agency regulates real estate licenses in North Carolina?North Carolina License Law
- North Carolina requires mandatory agency disclosure. This disclosure must occur:North Carolina License Law
- Under North Carolina law, buyer agency agreements must be:North Carolina License Law
Key Terms to Know
A legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
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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