§ 34-27-84 — Obligations of Licensees

(a) Licensees shall have all of the following obligations to all parties in a real estate transaction:
(1) To provide brokerage services to all parties to the transaction honestly and in good faith.
(2) To exercise reasonable skill and care in providing brokerage services to all parties.
(3) To keep confidential any information given to the licensee in confidence, or any information obtained by the licensee which the licensee knows a reasonable individual would want to keep confidential, unless: (i) disclosure of this information is required by law; (ii) the disclosure is authorized by the party in writing; (iii) the information becomes public knowledge; or (iv) failure to disclose the information violates a fiduciary duty to a client.
(4) To account for all property coming into the possession of the licensee which belongs to any party to the real estate transaction.
(5) When assisting a party in the negotiation of a real estate transaction, to present all written offers in a timely and truthful manner.
(6) To act on behalf of the licensee or his or her immediate family, or on behalf of any other individual, organization, or business entity in which the licensee has a personal interest only with prior timely written disclosure of this interest to all parties to the transaction.
(b) A licensee may provide requested information that affects a transaction to any party who requests the information, unless disclosure of the information is prohibited by law or in this article.
(c) When accepting an agreement to list an owner’s property for sale, the licensee, at a minimum,
shall
accept delivery of and present to the consumer all offers, counteroffers, and addenda to assist the consumer in negotiating offers, counteroffers, and addenda, and to answer the consumer’s questions relating to the transaction.

Legislative History

(Acts 1995, No. 95-211, p. 341, §5; Act 2005-314, 1st Sp. Sess., p. 646, §1; Act 2025-380, §1.)