543B.58 Licensees representing more than one client in a transaction.
1. A licensee shall not be the agent for both a buyer and a seller to a transaction without obtaining the written consent of both the buyer and the seller. The written consent shall state that the licensee has made a full disclosure of the type of representation the licensee will provide. The consent to multiple representation shall contain a statement of the licensee’s duties under section 543B.56, subsection 1, a statement of the licensee’s duties to the client under section 543B.56, subsection 2, paragraphs “b” and “c”, and a statement that the clients understand the licensee’s duties and consent to the licensee’s providing brokerage services to more than one client.
2. A consent to multiple representation may contain additional disclosures by the licensee or additional agreements between the licensee and the clients that do not violate any duty of a licensee under this chapter.
95 Acts, ch 17, §4
Referred to in §543B.56, 543B.61
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