Nebraska § 76-2416 Licensee; act as agent, when; agency
relationships authorized; compensation, when

Nebraska Statutes

§ 76-2416 — Licensee; act as agent, when; agency relationships authorized; compensation, when

Nebraska·Ch. 76 Real Property

(1)When engaged in any of the activities enumerated in subdivision (2) of section 81-885.01 , a licensee may act as a limited agent in any transaction as a single agent, subagent, or dual agent. The licensee's general duties and obligations arising from the limited agency relationship shall be disclosed to the seller and the buyer or to the landlord and the tenant pursuant to sections 76-2420 to 76-2422 . Alternatively, when engaged in any of the activities enumerated in subdivision (2) of section 81-885.01 , a licensee may act as an agent in any transaction in accordance with a written contract as described in subsection

(6)of section 76-2422 .

(2)A licensee shall be considered a buyer's or tenant's limited agent unless:

(a)The designated broker enters into a written seller's ag

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(1) When engaged
in any of the activities enumerated in subdivision (2) of section 81-885.01 ,
a licensee may act as a limited agent in any transaction as a single agent,
subagent, or dual agent. The licensee's general duties and obligations arising
from the limited agency relationship shall be disclosed to the seller and
the buyer or to the landlord and the tenant pursuant to sections 76-2420 to 76-2422 . Alternatively, when engaged in any of the activities enumerated in
subdivision (2) of section 81-885.01 , a licensee may act as an agent in any
transaction in accordance with a written contract as described in subsection
(6) of section 76-2422 .
(2) A licensee shall be considered a buyer's or tenant's limited agent
unless:
(a) The designated broker enters into a written seller's agent or landlord's
agent agreement with the party to be represented pursuant to subsection (2)
of section 76-2422 ;
(b) The designated broker enters into a subagency agreement with another
designated broker pursuant to subsection (5) of section 76-2422 ;
(c) The designated broker enters into a written dual agency agreement
with the parties to be represented pursuant to subsection (4) of section 76-2422 ;
or
(d) The designated broker enters into a written agency agreement pursuant
to subsection (6) of section 76-2422 .
(3) Sections 76-2401 to 76-2430 shall not obligate any buyer or tenant
to pay compensation to a licensee unless the buyer or tenant has entered into
a written agreement with the designated broker specifying the compensation
terms in accordance with subsection (3) of section 76-2422 .
(4) A licensee may work with a single party in separate transactions
pursuant to different relationships, including, but not limited to, selling
one property as a seller's agent and working with that seller in buying another
property as a buyer's agent or as a subagent if the licensee complies with
sections 76-2401 to 76-2430 in establishing the relationships for each transaction.

Nebraska § 76-2416 (Licensee; act as agent, when; agency relationships authorized; compensation, when) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: Laws 1994, LB 883, § 16; Laws 2011, LB25, § 5. Annotations: A brokerage relationship is a limited agency relationship. Professional Mgmt. Midwest v. Lund Co., 284 Neb. 777, 826 N.W.2d 225 (2012).