[Offers and Negotiations – Offer Presentation Timeline] A North Carolina broker just received an offer to purchase a home they have listed. According…

According to the North Carolina Real Estate Commission Rule 21 NCAC 58A .0106(a), a broker must deliver a copy of any written offer to their client within three days of the broker's receipt of the document. While the broker's fiduciary duty also requires them to present offers "promptly" or immediately, this rule establishes the absolute maximum timeframe. The period is defined as three calendar days, not business days. This ensures that sellers are informed of all offers in a timely manner, allowing them to make educated decisions about their property.

A. 24 hours of receipt: This is not the timeframe specified by the North Carolina Real Estate Commission rules; it is a common misconception.

B. 1 business day of receipt: The rule specifies "days," which the Commission interprets as calendar days, not business days.

C. 3 business days of receipt: The rule specifies calendar days, making the distinction of "business days" incorrect.

1. North Carolina Real Estate Commission. (2024). North Carolina Real Estate License Law and Commission Rules. 21 NCAC 58A .0106(a). "A broker shall deliver a copy of any written agency agreement, contract, offer, lease, rental agreement, option, or other related transaction document to their client or customer within three days of the broker's receipt of the executed document."

2. North Carolina Real Estate Commission. (2023). North Carolina Real Estate Manual. Chapter 10, "Sales Contracts and Practices," Section: Handling Offers, p. 338. "Commission Rule A.0106 requires a broker to deliver a copy of any written offer to the client (or the client’s attorney, if so instructed) within three days of the broker’s receipt of the offer."

3. North Carolina General Assembly. General Statutes of North Carolina. Chapter 93A, Article 1, Section 93A-6(a)(10). This statute grants the Commission the authority to discipline a licensee for "Failing, within a reasonable time, to deliver to the parties thereto a copy of any... offer to purchase and sell real estate..." The Commission defines this "reasonable time" in Rule 58A .0106.