Agency
Under North Dakota law, a broker who is a principal (owns the property being sold) must disclose their licensed status to:
AThe title company only
BAll parties to the transaction✓ Correct
COnly the buyer's lender
DOnly if the NDREC requires it
Explanation
A licensee who has a personal ownership interest in a transaction must disclose their licensed status and ownership interest to all parties. This is required to ensure transparency and prevent conflicts of interest from being hidden.
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