Agency
Under North Dakota law, which of the following is TRUE about a buyer's right to be represented by their own agent?
ABuyers must use the listing agent since they know the property best
BBuyers have the right to hire their own buyer's agent to represent their interests in a transaction✓ Correct
CBuyer's agents are only required for commercial transactions
DBuyer representation requires NDREC approval
Explanation
Buyers have the right to hire their own agent (buyer's broker) to provide representation and protect their interests in a transaction. Disclosure of agency relationships ensures buyers understand their options.
Related North Dakota Agency Questions
- A North Dakota seller's agent who unknowingly makes a false statement about the property's zoning classification may be liable for:
- A North Dakota buyer hires a buyer's broker. Midway through searching for properties, the buyer falls in love with a property listed by the buyer's broker's firm. The best solution to avoid dual agency is:
- A North Dakota dual agent owes both parties the duty of:
- A North Dakota buyer's broker receives a request from the seller to identify their buyer's source of funds. The buyer's broker should:
- A North Dakota buyer tells their agent they want to buy a home near a good school district. This instruction comes under the agent's duty of:
- A listing agent who also works with the buyer without a separate buyer-broker agreement is most likely acting as:
- If a North Dakota licensee inadvertently creates an agency relationship through their actions, this is known as:
- In North Dakota, which of the following is an example of a licensee's duty of 'obedience' to a client?
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