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District of Columbia Official Code 2001 Edition. |
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Division VIII. General Laws. |
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Title 47. Taxation, Licensing, Permits, Assessments, and Fees. |
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Chapter 28. General License Law. |
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Subchapter I-B. Non-Health Related Occupations and Professions Licensure. |
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Part P. Duties of Real Estate Brokers, Salespersons, and Property Managers.
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Current through October 23, 2012
(a) A licensee engaged by a buyer shall:
(1) Perform in accordance with the terms of the brokerage relationship;
(2) Promote the interests of the buyer by:
(A) Seeking a property at a price and terms acceptable to the buyer, but, the licensee shall not be obligated to seek other properties for the buyer while the buyer is a party to a contract to purchase property unless agreed to as part of the brokerage relationship;
(B) Presenting in a timely manner all written offers or counteroffers to and from the buyer, even when the buyer is already a party to a contract to purchase property;
(C) Disclosing to the buyer material facts related to the property or concerning the transaction of which the licensee has actual knowledge, provided that nothing in this section shall modify or limit in any way the provisions of § 42-1755(f); and
(D) Accounting for in a timely manner all money and property received in which the buyer has or may have an interest;
(3) Maintain confidentiality of all personal and financial information received from the client during the brokerage relationship and any other information that the client requests during the brokerage relationship be maintained confidential unless otherwise provided by law or the buyer consents in writing to the release of such information;
(4) Exercise ordinary care; and
(5) Comply with all requirements of this section, all applicable fair housing statutes and regulations, and all other applicable statutes and regulations which are not in conflict with this section.
(b) A licensee engaged by a buyer shall treat all prospective sellers honestly and shall not knowingly give them false information. No cause of action shall arise against any licensee for revealing information as required by this section or applicable law. In the case of a residential transaction, a licensee engaged by a buyer shall disclose to a seller the buyer's intent to occupy the property as a principal residence.
(c) A licensee engaged by a buyer in a real estate transaction may, unless prohibited by law or the brokerage relationship, provide assistance to the seller, or prospective seller, by performing ministerial acts. Performing such ministerial acts that are not inconsistent with part O, § 47-2853.197, and this section shall not be construed to violate the licensee's brokerage relationship with the buyer unless expressly prohibited by the terms of the brokerage relationship, nor shall performing such ministerial acts be construed to form a brokerage relationship with the seller.
(d) A licensee engaged by a buyer does not breach any duty or obligation to the buyer by showing properties in which the buyer is interested to other prospective buyers, whether as clients or customers, by representing other buyers looking at the same or other properties, or by representing sellers relative to other properties.
(e) Licensees shall disclose brokerage relationships pursuant to the provisions of § 47-2853.193.
(Apr. 20, 1999, D.C. Law 12-261, § 1002, 46 DCR 3142.)
HISTORICAL AND STATUTORY NOTES
Prior Codifications
1981 Ed., § 47-2853.192.
Legislative History of Laws
For legislative history of D.C. Law 12-261, see Historical and Statutory Notes following § 47-2801.
