SECTION 40-57-350. Real estate brokerage firm duties to client; agency relationship; applicability of common law.
(A) A real estate brokerage firm that provides services through an agency agreement for a client is bound by the duties of loyalty, obedience, disclosure, confidentiality, reasonable care, diligence, and accounting as set forth in this chapter. The following are the permissible brokerage relationships a real estate brokerage firm may establish:
(1) seller agency;
(2) buyer agency;
(3) disclosed dual agency;
(4) designated agency; or
(5) transaction brokerage.
Posted by: Byron King on 07/31/23 (This information is only accurate as of 07/31/23. You must contact SCR for updates and changes to this information after 07/31/23 as laws and regulations may change over time. SCR 803-772-5206 or email info at screaltors.org or email byron at screaltors.org)
This information is not legal advice. This information is intended only to provide general information and may not be relied upon as specific legal guidance. Legal counsel should always be consulted before acting in reliance on this information.