2005 Idaho Code - 54-2085 — DISCLOSURE AND WRITING REQUIREMENTS -- AGENCY DISCLOSURE BROCHURE AND REPRESENTATION CONFIRMATION

                                  TITLE  54
                    PROFESSIONS, VOCATIONS, AND BUSINESSES
                                  CHAPTER 20
                        IDAHO REAL ESTATE LICENSE LAW
    54-2085.  DISCLOSURE AND WRITING REQUIREMENTS -- AGENCY DISCLOSURE
BROCHURE AND REPRESENTATION CONFIRMATION. (1) A licensee shall give to a
prospective buyer or seller at the first substantial  business contact the
agency disclosure brochure adopted or approved by the Idaho real estate
commission. The commission by motion shall establish the form and contents of
the brochure in accordance with the provisions of this chapter. Each brokerage
shall keep a signed and dated record of a buyer or seller's receipt of the
agency disclosure brochure.
    (2)  The agency disclosure brochure shall list the types of representation
available to a buyer or seller in a regulated real estate transaction, the
legal duties and obligations owed to the buyer or seller in each type of
representation and a conspicuous notice that no representation will exist
absent a written agreement between the buyer or seller and the brokerage.
    (3)  A brokerage's relationship with a buyer or seller as an agent,
nonagent, limited dual agent, or limited dual agent with assigned agents, must
be determined and all necessary agreements executed no later than the
preparation of a purchase and sale agreement. A brokerage must disclose its
relationship to both buyer and seller in any transaction no later than the
preparation or presentation of a purchase and sale agreement.
    (4)  In addition, a purchase and sale agreement, an attachment thereto, or
other document drafted in connection with a regulated real estate transaction
shall contain the following confirmation of the relationship, whether it
involved representation or not, between the buyer, seller and licensees
involved:
         REPRESENTATION CONFIRMATION AND ACKNOWLEDGMENT OF DISCLOSURE
         Check one (1) box in Section 1 below and one (1) box in Section
    2 below to confirm that in this transaction, the brokerage(s)
    involved had the following relationship(s) with the BUYER(S) and
    SELLER(S).
    Section 1:
         A.      The brokerage working with the BUYER(S) is acting as an
         AGENT for the BUYER(S).
         B.      The brokerage working with the BUYER(S) is acting as a
         LIMITED DUAL AGENT for the BUYER(S), without an ASSIGNED AGENT.
         C.      The brokerage working with the BUYER(S) is acting as a
         LIMITED DUAL AGENT for the BUYER(S), and has an ASSIGNED AGENT
         acting solely on behalf of the BUYER(S).
         D.      The brokerage working with the BUYER(S) is acting as a
         NONAGENT for the BUYER(S).
    Section 2:
         A.      The brokerage working with the SELLER(S) is acting as an
         AGENT for the SELLER(S).
         B.      The brokerage working with the SELLER(S) is acting as a
         LIMITED DUAL AGENT for the SELLER(S), without an ASSIGNED AGENT.
         C.      The brokerage working with the SELLER(S) is acting as a
         LIMITED DUAL AGENT for the SELLER(S), and has an ASSIGNED AGENT
         acting solely on behalf of the SELLER(S).
         D.      The brokerage working with the SELLER(S) is acting as a
         NONAGENT for the SELLER(S).
    Each party signing this document confirms that he has received, read
    and understood the Agency Disclosure Brochure adopted or approved by
    the Idaho real estate commission and has consented to the
    relationship confirmed above. In addition, each party confirms that
    the brokerage's agency office policy was made available for
    inspection and review. EACH PARTY UNDERSTANDS THAT HE IS A "CUSTOMER"
    AND IS NOT REPRESENTED BY A BROKERAGE UNLESS THERE IS A SIGNED
    WRITTEN AGREEMENT FOR AGENCY REPRESENTATION.
    (5)  The failure of a licensee to timely give a buyer or seller the agency
disclosure brochure or the failure of a licensee to properly and timely obtain
any written agreement or confirmation required by this chapter shall be a
violation of the Idaho real estate license law and may subject the licensee to
disciplinary action according to the provisions of sections 54-2058 through
54-2078, Idaho Code.
    (6)  Neither the commission brochure nor the representation confirmation
shall create a brokerage relationship. A separate, signed, written agreement
is required for that purpose.