Legal Quiz: A recap of our most popular weekly Q&As (May 2019)
BY: Will Martin, General Counsel
1. If a buyer’s agent submits an offer to a listing agent, and that offer is rejected by the seller, are the listing agent and buyer’s agent required to keep a copy of the rejected offer for three years?
2. Is a listing agent required to confirm with a buyer’s agent that the buyer’s offer has been presented?
3. Is it OK for an NC REALTOR® member to provide a blank copy of the Offer to Purchase and Contract to a friend who is selling her unlisted property to an unrepresented buyer?
4. If a developer/builder has all its listings placed with Firm A, may an agent with Firm B solicit the company’s future business?
5. If an agent dies, may the commissions for his pending transactions be paid to his family or estate if they are not licensed real estate brokers?
6. Can a broker-in-charge (BIC) face discipline for losing track of a provisional broker’s license anniversary date?
7. Is it ethical for a REALTOR® to offer incentives to prospective buyer and seller clients?
8. So long as it is disclosed to a prospective buyer that a property they are interested in contains unpermitted improvements, is there anything else the buyer should be aware of?
9. If the parties to a contract need to amend it a second time, should they sign a second Agreement to Amend Contract form or should they just revise the Amendment form they already signed?
10. May a REALTOR® set up and advertise a program where she would donate a portion of her commission to a charitable organization on behalf of any person who buys or sells a property using her as their real estate agent?
HOW DID YOU DO? Scroll down to discover the answer.
To learn more about each Q&A listed here, visit ncrealtors.org/resolve-library and search by the Q&A title or browse by category. Both are referenced in the parenthesis at the end of each question.
