BIC TIP #1172: Working With Real Estate Agents, What Do You Do?
Still broker on a boat, Stephen Long brings a reminder that every North Carolina broker needs tattooed on their brain. The Working with Real Estate Agents disclosure needs to be reviewed with everyone at first substantial contact. Not after the third showing. Not when they are ready to write an offer. At first substantial contact.
Where Brokers Slip Up
Stephen sees it often. Brokers meet folks, chat about the market, go show houses, even help them get pre-qualified, and the Working with Real Estate Agents conversation never happens. Then, somewhere later in the process, the brochure finally comes out.
By then, the consumer may have already shared confidential information, like how high they are willing to go, without understanding who you represent or what your duties are. That is exactly the situation the disclosure is meant to prevent.
Give It, Go Over It, Document It
The requirement is not just to hand someone a piece of paper. You need to give it and go over it, explaining the different types of agency so the consumer understands their options.
The good news is that it does not have to be signed right away. But you do need to document that you gave it to them. Make a note of the date and the conversation. Hopefully they will sign it and choose to work with you when it comes time to purchase their real property.
Make It a Habit, Not a Hurdle
The easiest way to stay compliant is to build the disclosure into your first meeting routine. Before you talk price, before you unlock a door, have the conversation. It sets professional expectations, builds trust, and makes the eventual agency agreement feel like a natural next step.
If you are unsure exactly when contact becomes substantial, ask your broker-in-charge. When in doubt, have the conversation sooner rather than later.
The Practical Takeaway
At first substantial contact, give the Working with Real Estate Agents disclosure, review it with the consumer, and document that you did. A signature is great, but documentation is a must. Do it early, every time, whether you are in the office, at an open house, or out on the beautiful High Rock Lake.
This BIC Tip is general real estate education for licensees and consumers, not legal, tax, or financial advice. Rules and forms change, so verify current NCREC rules, MLS rules, and standard forms, and consult a North Carolina attorney or qualified professional about your specific situation. See Disclaimers & Disclosures.
