NCREL Post Licensing 301 Broker Relationships and Responsibilities Q&A Latest Update

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NCREL Post Licensing 301 Broker Relationships and Responsibilities | Q&A Latest 2025/2026 100% PASS A seller's agent or sub-agent must initially disclose her agent status to a prospective buyer when? - Answer -Before buyer and agent discuss motivation or financial information. What fiduciary duties are owed to principals? - Answer -Obey, Loyalty, Disclosure, Confidentiality, Accounting, & Reasonable care (OLD CAR) As a dual agent, my fiduciary responsibilities are reduced to the buyer and seller under what agency? - Answer -Dual Agency - agent cannot advise or council Material facts which must be disclosed - Answer -Pending foreclosure, adverse conditions, neighborhood changes, anything that will affect a decision to buy or sell A runway is planned in the next 20 years near a property that I purchase. I later sell the property. To which party must I disclose the plan for a runway? - Answer -All parties A listing broker is aware of a hidden defect in the home. The seller marks no representation on the disclosure statement, so the listing agent does not disclose the defect in marketing or on MLS. The buyer's agent does not uncover the defect. After closing who is responsible for