North Dakota License Law
A North Dakota licensee who posts a property's lockbox code on social media has:
AEfficiently marketed the property
BPotentially violated security and professional standards, and may have breached fiduciary duties to the seller✓ Correct
CFollowed standard digital marketing practices
DComplied with NDREC advertising rules
Explanation
Posting lockbox codes publicly creates serious security risks for the seller's property and belongings, potentially exposing the seller to theft or harm. This violates the agent's duty to protect client interests and may subject the licensee to disciplinary action by NDREC.
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Key Terms to Know
Adjustable-Rate Mortgage (ARM)
A mortgage with an interest rate that changes periodically based on a financial index, usually after an initial fixed-rate period.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
Buyer's AgentA real estate licensee who represents the buyer's interests in a transaction, owing fiduciary duties to the buyer.
Seller's Agent (Listing Agent)A real estate licensee who represents the seller's interests, markets the property, and owes fiduciary duties to the seller.
State-Specific Concepts
DRE Regulation
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