301- NC POST LICENSING QUESTIONS & ANSWERS
Can an inactive agent be paid a referral commission if they were active at the time they
made the referral? - Answers :Yes. If and only if they were active at time of referral
Must Dual Agency be in writing? - Answers :Before 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? - Answers :Advertising
May a BIC and their Provisional Broker enter into dual agency together? - Answers :No.
Because the BIC oversees the PBs transactions, this would be a conflict of interest
When must all agency be "Written" - Answers :Prior to first offer
What should every agent bring to a listing appointment? - Answers :Deed, Plot Map,
Tax Info, RPD, MOG, Listing Agreement (Several Other items)
Who gets paid in an Exclusive Right to Sell listing agreement? - Answers :The listing
agent, regardless of who brings a buyer, and likely the buyer agent
Who gets paid in an exclusive listing agreement? - Answers :Whomever brings a buyer
Who can sell a property in an Open listing? - Answers :Any actively licensed agent
In a net listing money above the asking price is paid to whom? - Answers :Listing Agent
Who is the actual agent to the principle in a transaction? - Answers :The Firm (Individual
agents are sub agents to seller)
No M.O.G. is needed for what 3 listings? - Answers :Lease to purchase, 1st Dwelling,
and Foreclosure
When should WWREA be explained / signed? - Answers :At first substantial contact
If you miss the 6/10 Deadline for CE what must you do to re-activate your license? -
Answers :Complete latest General Update (4 Hours), and 3 CE Classes (4 hours each)
Total of 16 hours
Under NC License Law who can be held responsible for reporting Material Facts? -
Answers :Only Agents... (License Law)
Can an inactive agent be paid a referral commission if they were active at the time they
made the referral? - Answers :Yes. If and only if they were active at time of referral
Must Dual Agency be in writing? - Answers :Before 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? - Answers :Advertising
May a BIC and their Provisional Broker enter into dual agency together? - Answers :No.
Because the BIC oversees the PBs transactions, this would be a conflict of interest
When must all agency be "Written" - Answers :Prior to first offer
What should every agent bring to a listing appointment? - Answers :Deed, Plot Map,
Tax Info, RPD, MOG, Listing Agreement (Several Other items)
Who gets paid in an Exclusive Right to Sell listing agreement? - Answers :The listing
agent, regardless of who brings a buyer, and likely the buyer agent
Who gets paid in an exclusive listing agreement? - Answers :Whomever brings a buyer
Who can sell a property in an Open listing? - Answers :Any actively licensed agent
In a net listing money above the asking price is paid to whom? - Answers :Listing Agent
Who is the actual agent to the principle in a transaction? - Answers :The Firm (Individual
agents are sub agents to seller)
No M.O.G. is needed for what 3 listings? - Answers :Lease to purchase, 1st Dwelling,
and Foreclosure
When should WWREA be explained / signed? - Answers :At first substantial contact
If you miss the 6/10 Deadline for CE what must you do to re-activate your license? -
Answers :Complete latest General Update (4 Hours), and 3 CE Classes (4 hours each)
Total of 16 hours
Under NC License Law who can be held responsible for reporting Material Facts? -
Answers :Only Agents... (License Law)
