Agency
In Utah, when must a licensee provide a buyer with the required agency disclosure?
AAt closing
BBefore the buyer signs any offer
CAt the first substantial contact with the buyer✓ Correct
DOnly when dual agency exists
Explanation
Utah requires that licensees provide the agency disclosure to buyers at the first substantial contact—before substantive discussions about specific properties begin.
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Key Terms to Know
Agency
A legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
Fiduciary DutyThe highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
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