This text of New Hampshire § 331-A:25-e (Duty of a Designated Agent) is published on Counsel Stack Legal Research, covering New Hampshire primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
I. A licensee appointed by an appointing agent to be a designated agent shall:
(a)If representing a seller or landlord, comply with all duties as required in RSA 331-A:25-b.
(b)If representing a buyer or tenant, comply with all duties as required in RSA 331-A:25-c.
II. Appointment of a designated agent shall not be made without the written consent of the party at the commencement of the party's agency relationship with the real estate brokerage firm. There shall be a conclusive presumption that a seller or landlord or a buyer or tenant has consented to a designated agency relationship, if the party signed a brokerage agreement containing an explanation of designated agency.
III. Upon appointment of a designated agent, the responsibility to satisfy agency duties owed to a buyer or tenant
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I. A licensee appointed by an appointing agent to be a designated agent shall:
(a) If representing a seller or landlord, comply with all duties as required in RSA 331-A:25-b.
(b) If representing a buyer or tenant, comply with all duties as required in RSA 331-A:25-c.
II. Appointment of a designated agent shall not be made without the written consent of the party at the commencement of the party's agency relationship with the real estate brokerage firm. There shall be a conclusive presumption that a seller or landlord or a buyer or tenant has consented to a designated agency relationship, if the party signed a brokerage agreement containing an explanation of designated agency.
III. Upon appointment of a designated agent, the responsibility to satisfy agency duties owed to a buyer or tenant or a seller or landlord shall be the responsibility of the designated agent, and not other licensees affiliated with the same firm.
IV. Substitutions of designated agents shall not be made without informed written consent of the party being represented.
V. When a designated agent is appointed, information known or acquired by the designated agent shall not be imputed to the appointing agent or to other licensees within the same firm.
VI. When an appointing agent has appointed designated agents for both the buyer or tenant and the seller or landlord in the same transaction, the appointing agent is a dual agent, and does not exclusively represent either the seller or landlord or the buyer or tenant. The appointing agent is neutral as to any conflicting interests of the seller or landlord and buyer or tenant but shall continue to owe the seller or landlord and the buyer or tenant the duties of confidentiality, disclosure of material information, and accounting for funds.
VII. (a) When consent to designated agency has been given by the seller or landlord and the buyer or tenant, written notice shall also be provided to the seller or landlord and the buyer or tenant that designated agency has occurred with both the seller or landlord and buyer or tenant in the transaction. This notice shall be provided prior to the execution of the purchase and sale or lease agreement.
(b) If the designated seller's agent and the designated buyer's agent in a transaction are affiliated with the same broker and the seller or landlord and the buyer or tenant each have consented to designated agency, a separate consent to dual agency of the appointing agent shall not be required.
(c) If the designated seller or landlord agent is also the designated buyer or tenant agent in the same transaction, the designated agent is a dual agent and a separate informed consent to dual agency shall be required in accordance with RSA 331-A:25-d.
VIII. Appointment of a designated agent shall not limit the liability or responsibility of the appointing agent and principal broker for breach of duty by the designated agent.
IX. Designated agents who are affiliated with the same managing broker in the same transaction shall not be considered dual agents, unless the same designated agent has agreed to represent both buyer and seller.
X. Dual agency does not occur between appointing agents who have separately appointed the designated seller agent and the designated buyer agent within the same firm. Appointing agents receipt of confidential information shall not be imputed to any other appointing or affiliated agents from the same firm.
XI. Dual agency does not occur in firms that represent buyers only and that have appointed designated buyer agents within the firm, or firms that represent sellers only and that have appointed designated seller agents within the firm.