Nebraska § 76-2418 Buyer's agent or tenant's agent;
powers and duties; confidentiality; immunity; disclosures required

Nebraska Statutes

§ 76-2418 — Buyer's agent or tenant's agent; powers and duties; confidentiality; immunity; disclosures required

Nebraska § 76-2418

Ch. 76Real Property

This text of Nebraska § 76-2418 (Buyer's agent or tenant's agent; powers and duties; confidentiality; immunity; disclosures required) is published on Counsel Stack Legal Research, covering Nebraska primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Neb. Rev. Stat. § 76-2418 (2026).

Text

(1)A licensee representing a buyer or tenant as a buyer's or tenant's agent shall be a limited agent with the following duties and obligations:

(a)To perform the terms of any written agreement made with the client;

(b)To exercise reasonable skill and care for the client;

(c)To promote the interests of the client with the utmost good faith, loyalty, and fidelity, including:

(i)Seeking a price and terms which are acceptable to the client, except that the licensee shall not be obligated to seek other properties while the client is a party to a contract to purchase property or to a lease or letter of intent to lease;

(ii)Except as provided in section 76-2422.01 , presenting all written offers to and from the client in a timely manner regardless of whether the client is already a party t

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(1) A licensee representing a buyer or tenant as a buyer's or tenant's
agent shall be a limited agent with the following duties and obligations:
(a) To perform the terms of any written agreement made with the client;
(b) To exercise reasonable skill and care for the client;
(c) To promote the interests of the client with the utmost good faith,
loyalty, and fidelity, including:
(i) Seeking a price and terms which are acceptable to the client, except
that the licensee shall not be obligated to seek other properties while the
client is a party to a contract to purchase property or to a lease or letter
of intent to lease;
(ii) Except as provided in section 76-2422.01 ,
presenting all written offers to and from the client in a timely
manner regardless of whether the client is already a party to a contract to
purchase property or is already a party to a contract or a letter of intent
to lease;
(iii) Disclosing in writing to the client adverse material facts actually
known by the licensee; and
(iv) Advising the client to obtain expert advice as to material matters
about which the licensee knows but the specifics of which are beyond the expertise
of the licensee;
(d) To account in a timely manner for all money and property received;
(e) To comply with all requirements of sections 76-2401 to 76-2430 ,
the Nebraska Real Estate License Act, and any rules and regulations promulgated
pursuant to such sections or act; and
(f) To comply with any applicable federal, state, and local laws, rules,
regulations, and ordinances, including fair housing and civil rights statutes
or regulations.
(2) A licensee acting as a buyer's or tenant's agent shall not disclose
any confidential information about the client unless disclosure is required
by statute, rule, or regulation or failure to disclose the information would
constitute fraudulent misrepresentation. No cause of action for any person
shall arise against a licensee acting as a buyer's or tenant's agent for making
any required or permitted disclosure.
(3)(a) A licensee acting as a buyer's or tenant's agent owes no duty
or obligation to a seller, a landlord, or a prospective seller or landlord,
except that the licensee shall disclose in writing to any seller, landlord,
or prospective seller or landlord all adverse material facts actually known
by the licensee. The adverse material facts may include, but are not limited
to, adverse material facts concerning the client's financial ability to perform
the terms of the transaction.
(b) A buyer's or tenant's agent owes no duty to conduct an independent
investigation of the client's financial condition for the benefit of the customer
and owes no duty to independently verify the accuracy or completeness of statements
made by the client or any independent inspector.
(4) A buyer's or tenant's agent may show properties in which the client
is interested to other prospective buyers or tenants without breaching any
duty or obligation to the client. This section shall not be construed to prohibit
a buyer's or tenant's agent from showing competing buyers or tenants the same
property and from assisting competing buyers or tenants in attempting to purchase
or lease a particular property.
(5)(a) A client may agree in writing with a buyer's or tenant's agent
that other designated brokers may be retained and compensated as subagents.
(b) Any designated broker acting as a subagent on the buyer's or tenant's
behalf shall be a limited agent with the obligations and responsibilities
set forth in subsections (1) through (4) of this section.

Legislative History

Source: Laws 1994, LB 883, § 18; Laws 2002, LB 863, § 5; Laws 2011, LB25, § 7. Cross References: Nebraska Real Estate License Act, see section 81-885. Annotations: A brokerage relationship is a limited agency relationship. Professional Mgmt. Midwest v. Lund Co., 284 Neb. 777, 826 N.W.2d 225 (2012).