Source: https://development.code.dccouncil.us/dc/council/code/sections/47-2853.191.html
Timestamp: 2019-02-21 10:15:04
Document Index: 595114446

Matched Legal Cases: ['§ 47', '§ 47', '§ 47', '§ 47', '§ 47', '§\u200247']

D.C. Law Library - § 47–2853.191. Fiduciary duties when representing a seller.
↪ Part P. Duties of Real Estate Brokers, Salespersons, and Property Managers.
↪ § 47–2853.191. Fiduciary duties when representing a seller.
§ 47–2853.192. Fiduciary duties when representing a buyer.
§ 47–2853.191. Fiduciary duties when representing a seller.
(a) A licensee engaged by a seller shall:
(2) Promote the interests of the seller by:
(A) Seeking a sale at the price and terms agreed upon in the brokerage relationship or at a price and terms acceptable to the seller; however, the licensee shall not be obligated to seek additional offers to purchase the property while the property is subject to a contract of sale, unless agreed to as part of the brokerage relationship or as the contract of sale so provides;
(B) Presenting in a timely manner all written offers or counter-offers to and from the seller, even when the property is already subject to a contract of sale;
(C) Disclosing to the seller material facts related to the property or concerning the transaction of which the licensee has actual knowledge; and
(D) Accounting for in a timely manner all money and property received in which the seller 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 seller consents in writing to the release of such information;
(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 seller shall treat all prospective buyers honestly and shall not knowingly give them false information. A licensee engaged by a seller shall disclose to prospective buyers all material adverse facts pertaining to the physical condition of the property which are actually known by the licensee. A licensee shall not be liable to a buyer for providing false information to the buyer if the false information was provided to the licensee by the seller and the licensee did not have actual knowledge that the information was false or act in reckless disregard of the truth. No cause of action shall arise against any licensee for revealing information as required by this section or applicable law.
(c) A licensee engaged by a seller in a real estate transaction may, unless prohibited by law or the brokerage relationship, provide assistance to a buyer or potential buyer by performing ministerial acts. Performing such ministerial acts that are not inconsistent with part O and § 47-2853.197 shall not be construed to violate the licensee’s brokerage relationship with the seller unless expressly prohibited by the terms of the brokerage relationship, nor shall performing such ministerial acts be construed to form a brokerage relationship with such buyer or potential buyer.
(d) A licensee engaged by a seller does not breach any duty or obligation owed to the seller by showing alternative properties to prospective buyers, whether as clients or customers, or by representing other sellers who have other properties for sale.
1981 Ed., § 47-2853.191.