2005 Idaho Code - 54-2088 — LIMITED DUAL AGENCY AND ASSIGNED AGENCY PERMITTED

                                  TITLE  54
                    PROFESSIONS, VOCATIONS, AND BUSINESSES
                                  CHAPTER 20
                        IDAHO REAL ESTATE LICENSE LAW
    54-2088.  LIMITED DUAL AGENCY AND ASSIGNED AGENCY PERMITTED. (1) A
brokerage may represent both the buyer and the seller in the same transaction
only as a limited dual agent and only with the express written consent of all
other clients involved in the transaction.
    (2)  A brokerage acting as a limited dual agent may, at the option of the
brokerage and with the express written consent of the other clients involved
in the transaction, assign separate sales associates to each client to act on
behalf of and represent that client solely. The designated broker shall not
act as an assigned agent of the brokerage.
    (3)  The express written consent to limited dual agency shall contain
separate signatures of all clients involved in the transaction and shall
contain the following language:
          CONSENT TO LIMITED DUAL REPRESENTATION AND ASSIGNED AGENCY
         The undersigned have received, read and understand the Agency
    Disclosure Brochure. The undersigned understand that the brokerage
    involved in this transaction may be providing agency representation
    to both the buyer and the seller. The undersigned each understands
    that, as an agent for both buyer/client and seller/client, a
    brokerage will be a limited dual agent of each client and cannot
    advocate on behalf of one client over another, and cannot legally
    disclose to either client certain confidential client information
    concerning price negotiations, terms or factors motivating the
    buyer/client to buy or the seller/client to sell without specific
    written permission of the client to whom the information pertains.
    The specific duties, obligations and limitations of a limited dual
    agent are contained in the Agency Disclosure Brochure as required by
    Section 54-2085, Idaho Code. The undersigned each understands that a
    limited dual agent does not have a duty of undivided loyalty to
    either client.
         The undersigned further acknowledge that, to the extent the
    brokerage firm offers assigned agency as a type of agency
    representation, individual sales associates may be assigned to
    represent each client to act solely on behalf of the client
    consistent with applicable duties set forth in Section 54-2087, Idaho
    Code. In an assigned agency situation, the designated broker (the
    broker who supervises the sales associates) will remain a limited
    dual agent of the client and shall have the duty to supervise the
    assigned agents in the fulfillment of their duties to their
    respective clients, to refrain from advocating on behalf of any one
    client over another, and to refrain from disclosing or using, without
    permission, confidential information of any other client with whom
    the brokerage has an agency relationship.
    (4)  All duties and obligations owed to a buyer/client or a seller/client
under section 54-2087, Idaho Code, apply to limited dual agency relationships
to the extent they do not unreasonably conflict with duties and obligations
owed to the other client, except that:
    (a)  A limited dual agent shall not disclose any of the following without
    express written consent of the client to whom the information pertains:
         (i)   That a buyer is willing to pay more than the listing price of
         the property;
         (ii)  That a seller is willing to accept less than the listing price
         for the property;
         (iii) The factors motivating the buyer to buy or the seller to sell;
         (iv)  That a buyer or seller will agree to a price or financing terms
         other than those offered.
    (b)  A limited dual agent does not have a duty of undivided loyalty to
    either buyer/client or seller/client, and by consenting to limited dual
    agency, the buyer and seller agree to those limitations.
    (5)  The following apply whenever a brokerage acting as a limited dual
agent assigns separate sales associates to act on behalf of the separate
clients:
    (a)  Designated broker. The designated broker continues to act as limited
    dual agent of each client with the duty to:
         (i)   Supervise the assigned agents in the fulfillment of their
         duties to their respective clients;
         (ii)  Refrain from advocating on behalf of any one client over
         another; and
         (iii) Refrain from disclosing or using, without permission,
         confidential information of any other client with whom the brokerage
         has an agency relationship.
    (b)  Imputed knowledge. Knowledge of any fact known to the brokerage, its
    designated broker, or any other licensee associated with the brokerage,
    shall not be imputed to an assigned agent of the brokerage so as to create
    an impermissible conflict of interest. Nothing in this subsection shall
    diminish a licensee's duty with respect to facts actually known or that
    reasonably should have been known to the licensee.
    (6)  If a designated broker determines that confidential information of a
client has been disclosed to another client in the transaction in violation of
this section, the designated broker shall promptly provide written notice of
the disclosure to the affected client.
    (7)  No cause of action for any buyer or seller shall arise against a
limited dual agent for making any required or permitted disclosure under this
act, nor does making such disclosure terminate the limited dual agency.
    (8)  Receipt of the agency disclosure brochure required by section
54-2085, Idaho Code, and the signed consent to dual representation by buyer
and seller agreeing to limited dual agency representation shall be sufficient
informed legal consent to dual representation under this act. A consent by the
buyer and seller to possible dual representation in the future, such as may be
contained in a written marketing or representation agreement between a
brokerage and client, shall also be considered effective and informed legal
consent to dual representation.

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