What mandates that the North Carolina listing agreement and buyer agency agreement must be in writing?

The requirement for the North Carolina listing agreement and buyer agency agreement to be in writing is a result of the Commission Rule. This rule is established by the North Carolina Real Estate Commission, which regulates real estate transactions in the state to ensure clarity and protect the interests of all parties involved.

Having these agreements in writing helps to create clear documentation of the terms and conditions agreed upon by the parties, which can prevent disputes and misunderstandings. This written requirement enhances accountability and establishes a legal foundation for enforcing the agreements should any issues arise in the future.

While the Statute of Frauds is an important legal principle generally necessitating that certain types of agreements be in writing, the specific rule mandating written listing and buyer agency agreements in North Carolina is derived from the Commission Rule. The Conner Act deals with the recording of certain documents related to real estate, and contract law encompasses a broader field of legal principles governing how contracts are formed and enforced but does not specifically mandate these agreements be in writing in North Carolina.