one of his or her own listings, s/he must give the owner a chance to withdraw its listing and seek other representation prior to making any offer. If the seller wishes to continue to have Firm represent it in the purchase, Firm shall do so personally or appoint a Licensee, other than the purchasing Licensee, to represent the seller in the sale. Licensee Owned Rental Property Licensees who own any rental or investment properties which they directly or indirectly self-manage must not involve Firm in any way with respect to the management of those properties. Licensees must conduct all business relating to such rental properties outside of Firm’s office and without use of any of Firm’s property (including, but not limited to letterhead, fax machine, office space, or mail). Special care must be taken to ensure that tenants are aware that the licensee is in fact a licensee licensed with Firm and that Firm is in no way involved in management of the property. Licensees should use an addendum to all such lease or rental agreements specifically disclosing that the licensee is a Washington state real estate licensee, and that Firm is expressly not involved in any such lease or rental agreement or with the property in any way. Appraisal; Firm Price Opinions Licensees who are not also licensed as state-licensed real estate appraisers under RCW 18.140 shall not hold themselves out as appraisers or create the impression of such certification or licensure and shall not receive compensation for real estate appraisals or appraisal reviews. This shall not prevent Licensees from issuing compensation reports of property value commonly known as “Firms price opinions” or “comparative market analyses”, subject to the conditions and restrictions set forth in RCW 18.140.020(5). In any case, a Licensee shall not accept employment or compensation for appraisal of real property contingent upon reporting a predetermined value and shall clearly disclose in writing any interest Licensee has in the subject property. Failed Transactions Licensees shall immediately notify Firm of any sale that does not close as provided in the sale agreement, or if it appears at any time during escrow that the sale may not close as provided in the sale agreement. If one or the other parties to an escrow refuses to proceed with a transaction for any reason after escrow is opened, Licensees involved in the transaction shall report the matter to Firm immediately, along with any explanation of the cause. Licensees shall not counsel parties on whether agreements are enforceable nor make any representation regarding distribution of earnest money without the express consent of Firm. SPECIFIC PROCEDURES FOR REPRESENTING SELLERS Duties of Seller’s Agent In addition to the other duties set forth herein, Licensees representing sellers have the following additional duties: 1) to be loyal to the seller by taking no action that is adverse
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