301- NC Post Licensing Exam 2024 100% solved With Complete solution

Can an inactive agent be paid a referral commission if they were active at the time they made the referral? - ANSWERSYes. If and only if they were active at time of referral Must Dual Agency be in writing? - ANSWERSBefore an offer is made, Yes. Dual agency must be in writing and signed by both parties At a listing appointment, the agent should be gathering all information for listing and what? - ANSWERSAdvertising May a BIC and their Provisional Broker enter into dual agency together? - ANSWERSNo. Because the BIC oversees the PBs transactions, this would be a conflict of interest When must all agency be "Written" - ANSWERSPrior to first offer Are all in-house transactions Dual Agency? - ANSWERSNo. The exceptions would be Seller Sub Agency or Unrepresented Buyers Can The Real Estate Commission fine brokers? - ANSWERSNo. They can only reprimand, suspend, and revoke licenses Who can sue agents civilly for monetary compensation? - ANSWERSPrinciples of a transaction If Dual Agency is not disclosed is a commission due? - ANSWERSNo. Therefore it is imperative to disclose dual agency before any offers are written As a dual agent, the agent's duties are reduced to what? - ANSWERSContractual Obligations What must all agency agreements have? - ANSWERSA beginning and ending date Oral to Oral & Written to Written describe what? - ANSWERSThe permissions needed to show a property as a "Dual Agent" What should every agent bring to a listing appointment? - ANSWERSDeed, Plot Map, Tax Info, RPD, MOG, Listing Agreement (Several Other items) Who gets paid in an Exclusive Right to Sell listing agreement? - ANSWERSThe listing