(a)All brokerage engagements must:
(1)Advise the prospective client of the types of agency relationships available through the broker;
(2)Advise such prospective client of any brokerage relationships held by such broker with other parties which would conflict with any interests of the prospective client actually known to the broker but excluding the fact that the broker may be representing other sellers and landlords in selling or leasing property or that the broker may be representing other buyers and tenants in buying or leasing other property;
(3)Advise such prospective client as to the broker's compensation and whether the broker will share such compensation with other brokers who may represent other parties to the transaction in an agency capacity; and (4) Advise the prospective c
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(a) All brokerage engagements must: (1) Advise the prospective client of the types of agency relationships available through the broker; (2) Advise such prospective client of any brokerage relationships held by such broker with other parties which would conflict with any interests of the prospective client actually known to the broker but excluding the fact that the broker may be representing other sellers and landlords in selling or leasing property or that the broker may be representing other buyers and tenants in buying or leasing other property; (3) Advise such prospective client as to the broker's compensation and whether the broker will share such compensation with other brokers who may represent other parties to the transaction in an agency capacity; and (4) Advise the prospective client of the broker's obligations to keep information confidential under this chapter. (b) A brokerage engagement or an option to enter into a brokerage engagement shall not: (1) Purport to be a covenant running with the land or to be binding on future owners of interests in the subject property, except for rights solely applicable to commercial real estate as set forth in Code Section 44-14-602 ; (2) Allow for assignment of the right to provide service without notice and agreement of the owner of the subject property, except for such rights of assignment for commercial real estate as set forth in Code Section 44-14-602 or as part of the sale or merger of a brokerage firm; or (3) Purport to create a recordable lien, encumbrance, or other real property security interest. Any such lien, encumbrance, or other real property security interest, if recorded, shall be void and unenforceable and no release or voiding of such lien, encumbrance, or other real property security interest shall be required; provided, however, that this subsection shall not be applicable to lien rights solely applicable to commercial real estate as set forth in Code Section 44-14-602 . (c) This Code section shall not apply to: (1) A home warranty, building warranty, or other similar product that covers the cost of maintenance of a home's or other building's system or systems for a prescribed period of time from the date such home or building is sold; (2) An insurance contract; (3) An option to purchase, a put requirement to purchase, a right of first offer, or a right of refusal; (4) A declaration created in the formation of a common interest community or an amendment thereto; (5) A maintenance or repair agreement entered into by a homeowners' or property owners' association in a common interest community; (6) A loan or a commitment to make or receive a loan secured by real estate; (7) A security agreement under the Uniform Commercial Code relating to the sale or rental of personal property or fixtures; (8) Water, sewer, electrical, telephone, cable, or other regulated utility service providers; or (9) A property management agreement by which the owner of the real property shall contract with a party to provide management services for the maintenance, ownership, operation, or lease of real property, provided that the real estate that is the subject of the property management agreement is either for commercial real estate as defined by Code Section 44-14-601 or is for residential one-to four-family real estate that is otherwise not occupied by the owner or owner's family members as their principal place of residence and place of abode as of the date of inception of such property management agreement. (d) This Code section shall not be construed to impair the rights granted by Code Sections 44-14-361 , 44-14-361.1 , 44-14-602 , and 9-12-80 . (e) This Code section shall not be construed to create any statutory lien right or statutory right to create a cloud on title that is not otherwise created elsewhere in the Official Code of Georgia Annotated.