The showing of property in which a buyer is interested to other prospective buyers by a buyer’s agent does not in and of itself breach the duty of loyalty to the buyer or create a conflict of interest. The representation of more than one buyer by different Licensees affiliated with the same Firm in competing transactions involving the same property does not in and of itself breach the duty of loyalty to the buyers or create a conflict of interest. Written Buyer Agency Agreement Washington law requires firms to enter written services agreements with all principals, including buyers, before, or as soon as possible after, the firm’s appointed broker commences rendering brokerage services. (There is a limited exception to this requirement for representation of buyers who are solely interested in acquiring commercial real estate or brokers acting as limited dual agents in a transaction.) A services agreement with a buyer must identify the term of the agreement, and the default term must be 60 days. The buyer services agreement must also contain checkbox options for the parties to identify whether the agency relationship is exclusive or non-exclusive. Licensees working with buyers should have the buyer sign rennie’s buyer representation agreement and be certain the buyer has not executed an exclusive representation agreement with another firm.
LICENSING AND EDUCATION
License Requirements Washington law mandates continuing education requirements for all real estate licensees. Licensees must meet the minimum state requirements for obtaining and maintaining their licenses in current active standing. Licenses of all Licensees associated with Firm must be displayed prominently in Firm’s office. State Mandated Education Licensees shall be solely responsible for keeping track of current licensing requirements and meeting all continuing education and other licensing requirements. Professional Development Firm may assist Licensees in their professional development, but Licensees are encouraged to independently pursue professional development in addition to meeting state mandated continuing education requirements. Firm will cooperate with Licensees to the extent practical in arranging for or accommodating advanced professional training. Licensees are encouraged to attend trade association conventions and seminars and pursue advanced designations through applicable education programs.
23
122160001.2 0073499-00001
Made with FlippingBook - professional solution for displaying marketing and sales documents online