According to North Carolina Real Estate Commission (NCREC) rules, a broker may act as a buyer's agent under an oral agreement. This type of oral agreement must be non-exclusive and can be for an indefinite period. However, the Commission mandates that the agreement must be reduced to a written document no later than the time a broker presents an offer to purchase on behalf of the buyer. This ensures that the terms of representation, including compensation and duties, are clearly defined and agreed upon before the buyer is contractually bound to a purchase.

A: The Working with Real Estate Agents disclosure must be provided at first substantial contact, and its use cannot be delayed.

B: All listing agreements (seller agency) must be in writing from their inception to be enforceable in North Carolina.

D: Oral buyer agency agreements must be non-exclusive. Any exclusive agency agreement, whether for a buyer or seller, must be in writing.

1. North Carolina Real Estate Commission. (2023). North Carolina Real Estate Manual. Chapter 8, Agency Contracts, pp. 8-10, 8-18. "A buyer agency agreement may be oral, at least initially... However, if the buyer agent wants to have an exclusive buyer agency agreement... the agreement must be in writing from its formation... an oral buyer agency agreement must be reduced to writing not later than the time an offer to purchase is presented by the broker to a seller or seller's agent."

2. North Carolina Administrative Code. Title 21, Chapter 58, Rule A .0104(a). "Every agreement for brokerage services in a real estate sales transaction... shall be in writing and signed by the parties thereto from its formation... Except that, a broker... may enter into an oral agency agreement with a buyer... at the time of the initial contact... provided that the oral agreement is reduced to writing... not later than the time any party makes an offer to purchase, sell, rent, lease, or exchange real estate to another."