Agency
In North Dakota, the 'scope of authority' of a real estate agent working under a listing agreement is:
AUnlimited; the agent can do anything to sell the property
BLimited to the specific activities authorized in the listing agreement and by law✓ Correct
COnly limited by what the agent deems necessary
DSet by the MLS rules only
Explanation
A real estate agent's authority is limited to what is authorized in the listing agreement and agency relationship. The agent can market the property, present offers, and perform related activities, but cannot bind the seller to a contract without the seller's signature or take unauthorized actions.
Related North Dakota Agency Questions
- A North Dakota seller's agent who represents the seller exclusively owes which duties to the buyer?
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- 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:
- In North Dakota, an agent who does not disclose a known defect to a buyer is potentially liable for:
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- A buyer's agent owes which of the following duties to their buyer-client?
- A North Dakota buyer's agent who has a conflict of interest due to a personal relationship with the seller should:
- North Dakota allows 'designated agency' where:
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