301- NC Post Licensing Questions With 100% Correct
Answers.
Can an inactive agent be paid a referral commission if they were active at the time
they made the referral? - ANSWER Yes. If and only if they were active at time of
referral
Must Dual Agency be in writing? - ANSWER 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? - ANSWER Advertising
May a BIC and their Provisional Broker enter into dual agency together? - ANSWER
No. Because the BIC oversees the PBs transactions, this would be a conflict of
interest
When must all agency be "Written" - ANSWER Prior to first offer
Are all in-house transactions Dual Agency? - ANSWER No. The exceptions would
be Seller Sub Agency or Unrepresented Buyers
Can The Real Estate Commission fine brokers? - ANSWER No. They can only
reprimand, suspend, and revoke licenses
Who can sue agents civilly for monetary compensation? - ANSWER Principles of a
transaction
If Dual Agency is not disclosed is a commission due? - ANSWER No. 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? - ANSWER Contractual
Obligations
What must all agency agreements have? - ANSWER A beginning and ending date
Oral to Oral & Written to Written describe what? - ANSWER The permissions
needed to show a property as a "Dual Agent"
What should every agent bring to a listing appointment? - ANSWER Deed, Plot
Map, Tax Info, RPD, MOG, Listing Agreement (Several Other items)
Who gets paid in an Exclusive Right to Sell listing agreement? - ANSWER The
listing agent, regardless of who brings a buyer, and likely the buyer agent
Answers.
Can an inactive agent be paid a referral commission if they were active at the time
they made the referral? - ANSWER Yes. If and only if they were active at time of
referral
Must Dual Agency be in writing? - ANSWER 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? - ANSWER Advertising
May a BIC and their Provisional Broker enter into dual agency together? - ANSWER
No. Because the BIC oversees the PBs transactions, this would be a conflict of
interest
When must all agency be "Written" - ANSWER Prior to first offer
Are all in-house transactions Dual Agency? - ANSWER No. The exceptions would
be Seller Sub Agency or Unrepresented Buyers
Can The Real Estate Commission fine brokers? - ANSWER No. They can only
reprimand, suspend, and revoke licenses
Who can sue agents civilly for monetary compensation? - ANSWER Principles of a
transaction
If Dual Agency is not disclosed is a commission due? - ANSWER No. 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? - ANSWER Contractual
Obligations
What must all agency agreements have? - ANSWER A beginning and ending date
Oral to Oral & Written to Written describe what? - ANSWER The permissions
needed to show a property as a "Dual Agent"
What should every agent bring to a listing appointment? - ANSWER Deed, Plot
Map, Tax Info, RPD, MOG, Listing Agreement (Several Other items)
Who gets paid in an Exclusive Right to Sell listing agreement? - ANSWER The
listing agent, regardless of who brings a buyer, and likely the buyer agent
