Legal Disclosures | Joy Watson Real Estate | Greensboro, NC
North Carolina Disclosure of Brokerage Relationship
North Carolina real estate law requires every broker to disclose the nature of their relationship with each party in a transaction before providing brokerage services. This page explains how Joy Watson Real Estate works with buyers, sellers, and other clients under NC General Statute 93A and the NC Real Estate Commission Working with Real Estate Agents Disclosure.
Who We Are
Joy Watson Real Estate is an independent, non-corporate real estate firm based in Greensboro, NC. Joy Watson is a licensed NC Realtor® (License #307423, Firm License #C37131) serving buyers, sellers, investors, and rental clients across Greensboro and the Piedmont Triad. Joy is a member of the Greensboro Regional Realtors® Association and operates under the Code of Ethics of the National Association of Realtors®.
Types of Brokerage Relationships in North Carolina
Buyer Agency
When Joy Watson Real Estate represents you as a buyer, we owe you full fiduciary duties under NC law. Those duties include loyalty, confidentiality, disclosure, obedience to lawful instructions, reasonable care, and accounting for funds. We work exclusively in your interest to identify properties, negotiate favorable terms, analyze market data, and guide you from offer through closing.
Under the NAR settlement rules effective August 2024, buyers are required to sign a written buyer agency agreement before touring homes. This agreement outlines the scope of our services, the compensation structure, and the duration of the relationship. We will walk you through this form before we begin working together.
Seller Agency
When Joy Watson Real Estate represents you as a seller, we act as your listing agent. We owe you the same full fiduciary duties described above. Our job is to price your property accurately using current Greensboro MLS data, market it effectively, negotiate strongly on your behalf, and protect your interests through the entire transaction.
Dual Agency
Dual agency occurs when Joy Watson Real Estate represents both the buyer and the seller in the same transaction. In NC, dual agency is legal only with the written informed consent of both parties. When dual agency arises, our fiduciary duties to each party are limited. We cannot advocate exclusively for either side or disclose one party's confidential information to the other. Both parties will be asked to sign a dual agency consent form before the transaction proceeds.
If you are not comfortable with dual agency, you have the right to obtain separate representation at any time.
No Agency (Seller Subagency)
In some situations, Joy Watson Real Estate may provide services to a customer without entering a formal agency relationship. In that case, we must treat both parties honestly and fairly but we do not owe fiduciary duties to the customer. We will always disclose when this applies before providing any substantial assistance.
What to Expect at Your First Meeting
At or before our first substantive meeting, Joy will provide you with the NC Real Estate Commission's Working with Real Estate Agents Disclosure form and ask you to sign it. This form does not create an agency relationship. It simply confirms that Joy has explained your options and that you understand how brokerage relationships work in North Carolina.
From there, if you choose to move forward, we will enter a written buyer agency or listing agreement that spells out exactly how we work together, what we will do for you, and how compensation works.
Compensation
Compensation for real estate brokerage services is negotiable and is not fixed by law or by any real estate board or association. Under the terms of any buyer agency agreement you sign with Joy Watson Real Estate, the agreed compensation amount will be clearly stated. If the seller's broker offers a cooperative compensation that covers your agreed amount, you will not owe anything additional. If there is a gap, we will discuss it openly before you are obligated to anything.
NC Real Estate Commission Oversight
All real estate brokers in North Carolina are licensed and regulated by the NC Real Estate Commission (NCREC), located at 1313 Navaho Drive, Raleigh, NC 27609. If you have a concern about the conduct of any NC real estate broker, you may contact the NCREC directly. Joy Watson Real Estate fully supports the NCREC's mission to protect the public interest in real estate transactions.
Questions About This Disclosure
Real estate relationships should be built on clarity and trust from the very first conversation. If you have any questions about what kind of relationship makes sense for your situation, Joy is happy to talk it through with you before you commit to anything.
