Section 08.88.620. Duties owed by licensee representing a person.

Unless additional duties are agreed to in a written document signed by the person represented by the licensee, a real estate licensee who represents the person owes the person the following duties in addition to the other duties imposed by AS 08.88.615:
        (1) not taking action that the licensee knows is adverse or detrimental to the interest of the represented person in a real estate transaction;
        (2) disclosure of a conflict of interest to the represented person in a timely manner;
        (3) advising the represented person to obtain expert advice on a matter that relates to the real estate transaction that is beyond the licensee's expertise;
        (4) not disclosing confidential information from or about the represented person without written consent, except under a subpoena or another court order, even after termination of the licensee's relationship with the represented person;
        (5) if the represented person is a seller or a lessor, unless otherwise agreed to in writing, making a good faith and continuous effort to find a buyer or lessee for the real estate of the seller or lessor, except that a licensee is not required to seek additional offers to buy or lease the real estate while the real estate is subject to an existing contract for sale or lease; and
        (6) if the represented party is a buyer or a lessee, unless otherwise agreed to in writing, making a good faith and continuous effort to find real estate for the buyer or lessee, except that a licensee is not obligated to
             (A) seek additional real estate to buy or lease for the buyer or lessee while the buyer or lessee is a party to an existing contract to buy or lease real estate; or
             (B) show to the buyer or lessee real estate for which there is not a written agreement to pay compensation to the licensee.

Authorities

8.88.625

Notes

References

AS 8.88.625 .625">Sec. 08.88.625. Waiver of duties.

History

(Sec. 6 ch 105 SLA 2004)