§ 543B.59 — Appointed agents within a firm

Iowa § 543B.59

• Jurisdiction: Iowa
• Title XIII: COMMERCE
• Ch. 543B: REAL ESTATE BROKERS AND SALESPERSONS

Text

1. Appointed agents. A real estate brokerage agency entering into a brokerage
agreement, through a designated broker, may notify a client in writing of those affiliated
licensees within the real estate brokerage agency who will be acting as appointed agents of
that client to the exclusion of all other affiliated licensees within the real estate brokerage
agency.
2. Dual agent. A real estate brokerage agency and a designated broker are not
considered to be dual agents solely because of an appointment under the provisions of this
section. However, an affiliated licensee who personally represents both the seller and the
buyer in a particular transaction is considered to be a disclosed dual agent and is required
to comply with the provisions of this subchapter governing disclosed dual agents.
3. Actual knowledge — information. A client, a real estate brokerage agency, and its
appointed agents are deemed to possess only actual knowledge and information at the time
the appointed agents are appointed. Knowledge or information is not imparted by operation
of law among the clients, the real estate brokerage agency, and its appointed agents.
4. Appointments — roles. The commission shall define by rule the methods of
appointment and the role of the real estate brokerage agency and the designated broker.
The rules must include a requirement that clients be informed as to the real estate brokerage
agency’s appointed agent policy and be given written notice of that policy in advance of
entering into a brokerage agreement.