Agency
An agency relationship is terminated when:
AThe property is listed on the MLS
BThe listing agreement expires or the transaction closes✓ Correct
CThe buyer makes an offer
DThe licensee joins a new brokerage
Explanation
An agency relationship is terminated by mutual agreement, expiration of the agreement, completion of the transaction (closing), or other events such as death or bankruptcy of a party.
Related North Dakota Agency Questions
- Sub-agency occurs when:
- A North Dakota real estate agent assists a buyer in submitting a fraudulent loan application. The agent is:
- Which of the following is a non-waivable duty owed by all North Dakota licensees regardless of agency relationship?
- A North Dakota agent representing a seller in a transaction is also representing the buyer in the sale of the buyer's existing home. This creates:
- A North Dakota listing agent should periodically update the seller on market conditions and activity even if no offers have been received. This reflects the duty of:
- A North Dakota buyer's agent owes which of the following duties to the seller?
- In North Dakota, an agent who represents a corporation purchasing real estate owes fiduciary duties to:
- When a North Dakota seller refuses to reduce their listing price despite the agent's advice that it is overpriced, the agent should:
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