Agency
The NC WWREA brochure explains three possible agency relationships. Which one is NOT a recognized agency relationship in NC real estate?
ASeller's agent
BBuyer's agent
CDual agent
DTransaction broker (non-agent)✓ Correct
Explanation
NC does not recognize a 'transaction broker' or 'facilitator' non-agency role in the same way as some other states. In NC, brokers must operate as seller's agents, buyer's agents, or (with consent) dual agents. All brokers in NC owe at minimum the duties of honesty, fairness, and material disclosure to all parties.
Related North Carolina Agency Questions
- Under NC license law, a 'provisional broker' is specifically restricted from:
- Under NC law, an agency relationship created through the conduct of the parties (rather than a written agreement) is called:
- A NC broker who represents a seller is approached by the seller's neighbor who wants to buy the property. The broker should:
- A NC real estate broker who has a personal financial interest in a property they are recommending to a client must:
- A dual agent in North Carolina must obtain informed written consent from:
- In NC, an 'express agency' is created by:
- A North Carolina broker who provides services to a buyer without a written buyer agency agreement is acting as:
- A NC broker enters into an Exclusive Buyer Agency Agreement. Under this agreement, the broker is entitled to compensation if:
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