Agency
Vermont requires a licensee to provide agency disclosure to a consumer:
AOnly when a written agency agreement is signed
BBefore providing substantive assistance to that consumer✓ Correct
CAt the time of closing
DOnly if the consumer specifically asks about representation
Explanation
Vermont law requires agency disclosure before a licensee provides substantive assistance so the consumer understands who the licensee represents and what duties are owed to them.
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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.
Buyer's AgentA real estate licensee who represents the buyer's interests in a transaction, owing fiduciary duties to the buyer.
Seller's Agent (Listing Agent)A real estate licensee who represents the seller's interests, markets the property, and owes fiduciary duties to the seller.
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