North Dakota Real Estate Salesperson Exam — All Questions
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In North Dakota, a licensee may represent both the buyer and the seller as a dual agent in the same transaction only when:
- a.The property is newly built
- b.The purchase price exceeds a set amount
- c.The employing broker approves verbally
- d.Both parties give informed written consent✓
North Dakota permits a licensee to act as a dual agent representing both parties in the same transaction only with the informed written consent of both the buyer and the seller. A dual agent must treat both fairly and may not disclose one party's confidential information to the other.
North Dakota requires a licensee to disclose the licensee's agency relationship to a consumer:
- a.Only at the closing table
- b.Early in the relationship, before the consumer shares confidential information✓
- c.Only after a purchase agreement is signed
- d.Only if the consumer requests it in writing
North Dakota licensees must disclose their agency relationship, identifying whom they represent, early in the relationship and before the consumer shares confidential information. Early disclosure helps the consumer understand whether the licensee represents the buyer, the seller, or both.