Agency
Under North Dakota agency law, which party is the 'principal' in a listing agreement?
AThe real estate broker
BThe seller✓ Correct
CThe buyer
DThe NDREC
Explanation
In a listing agreement, the seller is the principal who engages the broker (agent) to sell the property on their behalf. The broker owes fiduciary duties to the seller-principal.
Related North Dakota Agency Questions
- In North Dakota, a transaction broker (limited agent) owes which of the following duties?
- Under North Dakota law, an agency relationship with a buyer is typically created when:
- A North Dakota listing broker cooperating with a buyer's broker through the MLS is an example of:
- Which of the following is the BEST description of express agency?
- Under North Dakota's agency disclosure requirements, the agency disclosure form is NOT required when:
- In North Dakota, dual agency occurs when:
- A North Dakota listing agent discovers the seller has a serious health issue requiring a quick sale. The agent should:
- In North Dakota, the 'Realtor Code of Ethics' applies to:
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