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A
Never required
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B
Before any substantive discussion about the consumer's confidential information, motivations, or specific transaction details; the exact timing varies by state but is typically 'first substantive contact'
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C
Only at closing
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D
Only if the consumer asks
Why this is the answer
AGENCY DISCLOSURE timing is critical because consumers need to know whom the licensee represents BEFORE sharing confidential information. Most states require written disclosure at 'FIRST SUBSTANTIVE CONTACT' or before discussing material terms. WHAT TRIGGERS DISCLOSURE: (1) Discussing a consumer's motivation or urgency; (2) Asking about price range, financial capability, or motivations; (3) Reviewing specific properties beyond casual general info; (4) Beginning to write or receive an offer; (5) Showing a property in serious detail. WHAT IS NOT 'SUBSTANTIVE': (1) General greetings at an open house; (2) Asking general 'how can I help you' type questions; (3) Providing general market information without consumer specifics; (4) Casual conversation that is not real estate transaction-specific. THE FORM: Most states have a specific REQUIRED FORM (e.g., Florida's 'Working with a Realtor in Florida' brochure or 'Single Agent Disclosure'; California's 'Disclosure Regarding Real Estate Agency Relationships'; Texas's 'Information About Brokerage Services'). The form must typically be: (1) In a format approved by the commission; (2) Signed by the consumer (acknowledging receipt, not necessarily agreement); (3) Maintained in the brokerage's records. AGENCY OPTIONS to disclose: (1) Seller's agent (representing seller only); (2) Buyer's agent (representing buyer only); (3) Dual agent / designated agent (where allowed); (4) Transaction broker / facilitator (where applicable, like Florida); (5) Customer relationship (in states recognizing this distinction). DISCLOSURE TO ANOTHER AGENT'S CLIENT: When a buyer's agent shows a property to their buyer, and the listing agent meets the buyer, the listing agent's agency disclosure may not be needed if the buyer is already represented; this varies by state. STATE-SPECIFIC EXAMPLES: California: must disclose 'as soon as practicable' before offer is presented; Florida: must disclose before opinion of value, before showing properties, generally at first substantive contact; Texas: must provide IABS at first substantive dialogue; New York: requires written agency disclosure at first substantive contact for residential transactions; North Carolina: requires Working with Real Estate Agents brochure at first substantive contact. CONSEQUENCES OF NON-DISCLOSURE: (1) License discipline including fines; (2) Damage to client relationship; (3) Possible civil liability; (4) Voidable transactions in some cases. SIGNATURE: Sometimes the consumer refuses to sign — the licensee should note this and still provide the information; some states allow the licensee to sign attesting they provided the disclosure even if the consumer didn't sign.
Source: Agency Disclosure Timing