South Dakota § 36-21A-136 Duties and obligations of licensee representing buyer or tenant.

South Dakota Statutes

§ 36-21A-136 — Duties and obligations of licensee representing buyer or tenant.

South Dakota·Title 36 PROFESSIONS AND OCCUPATIONS·Ch. 36-21 REAL ESTATE LICENSING

Any licensee representing a buyer or tenant has the following duties and obligations:

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

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

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

(a)Seeking a price and terms which are acceptable to the client. However, the licensee is not 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;

(b)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 leas

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Any licensee representing a buyer or tenant has the following duties and obligations: (1) To perform the terms of any written agreement made with the client; (2) To exercise reasonable skill and care for the client; (3) To promote the interest of the client with the utmost good faith, loyalty, and fidelity, including: (a) Seeking a price and terms which are acceptable to the client. However, the licensee is not 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; (b) 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; (c) Disclosing to the client adverse material facts known by the licensee; and (d) 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; (4) To account in a timely manner for all money and property received; and (5) To comply with any applicable federal, state, and local laws, rules, regulations, and ordinances, including fair housing and civil rights statutes or regulations.

South Dakota § 36-21A-136 (Duties and obligations of licensee representing buyer or tenant.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.