2005 Idaho Code - 54-2050 — BROKERAGE REPRESENTATION AGREEMENTS -- REQUIRED ELEMENTS

                                  TITLE  54
                    PROFESSIONS, VOCATIONS, AND BUSINESSES
                                  CHAPTER 20
                        IDAHO REAL ESTATE LICENSE LAW
    54-2050.  BROKERAGE REPRESENTATION AGREEMENTS -- REQUIRED ELEMENTS. All
real estate brokerage representation agreements, whether with a buyer or
seller, must be in writing in the manner required by section 54-2085, Idaho
Code, and must contain the following contract provisions:
    (1)  Seller representation agreements. Each seller representation
agreement, whether exclusive or nonexclusive, must contain the following
provisions:
    (a)  Conspicuous and definite beginning and expiration dates;
    (b)  A legally enforceable description of the property;
    (c)  Price and terms;
    (d)  All fees or commissions; and
    (e)  The signature of the owner of the real estate or the owner's legal,
    appointed and duly qualified representative, and the date of such
    signature.
    (2)  Buyer representation agreements. Each buyer representation agreement,
whether exclusive or nonexclusive, must contain the following provisions:
    (a)  Conspicuous and definite beginning and expiration dates;
    (b)  All financial obligations of the buyer or prospective buyer, if any,
    including, but not limited to, fees or commissions;
    (c)  The manner in which any fee or commission will be paid to the broker;
    and
    (d)  Appropriate signatures and their dates.
    (3)  Prohibited provisions and exceptions -- Automatic renewal clauses. No
buyer or seller representation agreement shall contain a provision requiring
the party signing the agreement to notify the broker of the party's intention
to cancel the agreement after the definite expiration date, unless the
representation agreement states that it is completely nonexclusive and it
contains no financial obligation, fee or commission due from the party signing
the agreement.
    (4)  Copies required. A broker or salesperson who obtains a written
brokerage representation agreement of any kind shall, at the time of securing
such agreement, give the person or persons signing such agreement, a legible,
signed, true and correct copy thereof. To the extent the parties have agreed
in writing, copies that are electronically generated or transmitted, faxed or
delivered in another method shall be deemed true and correct.
    (5)  Electronically generated agreements. To the extent the parties have
agreed in writing, brokerage representation agreements with a buyer or seller
that are electronically generated or transmitted, faxed or delivered in
another method shall be deemed true and correct and enforceable as originals.