Agency
The 'Working with Real Estate Agents' brochure in North Carolina explains:
AMortgage financing options
BThe different types of agency relationships available✓ Correct
CClosing cost calculations
DProperty tax appeal procedures
Explanation
The WWREA brochure explains seller's agency, buyer's agency, dual agency, and designated agency so consumers can make an informed choice about representation.
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Key Terms to Know
Dual Agency
A situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate 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.
Math Concepts
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