Agency
The NC WWREA disclosure is required at first substantial contact. 'First substantial contact' is typically defined as:
AThe first time a listing agreement is signed
BThe first time there is meaningful discussion about a specific property or the buyer's/seller's needs, goals, or financial qualifications✓ Correct
CThe first open house showing
DOnly when a written offer is submitted
Explanation
First substantial contact occurs when meaningful, property-specific or needs-specific discussions begin with a prospective buyer or seller — generally before showing properties or taking a listing.
Related North Carolina Agency Questions
- The 'Working with Real Estate Agents' brochure in North Carolina explains:
- In NC, a listing broker who also brings a buyer and represents both parties without proper consent is guilty of:
- In North Carolina, 'informed consent' in a dual agency situation requires:
- When must a listing agent provide the 'Working with Real Estate Agents' (WWREA) disclosure brochure to a potential seller client?
- When a North Carolina broker practices designated dual agency, the broker-in-charge:
- A 'seller's agent' in NC owes the seller the fiduciary duty of loyalty, which means the agent must:
- A NC broker who acts as a transaction broker (facilitator) and is asked by one party to help draft the contract should:
- A NC agent who advises their buyer client to offer a lower price because the seller needs to sell quickly — using seller motivation information the agent gained as a transaction facilitator — has violated the duty of:
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