§ 33-28-305 — (d) Repealed By Laws 2009, Ch. 20, § 3

Wyoming § 33-28-305

• Jurisdiction: Wyoming
• Title 33: Professions and Occupations
• Ch. 28: REAL ESTATE BROKERS AND SALESPERSONS
• Art. 3: BROKER RELATIONSHIPS

Text

(e) A licensee may work with a single party in separate
transactions pursuant to different relationships, for example,
selling one (1) property as a seller's agent and working with
that seller in buying another property as an intermediary or
buyer's agent, if the licensee complies with this article in
establishing a separate relationship in writing for each
transaction.
(f) A licensee may complete real estate forms and shall
explain to the parties the effects thereof if the licensee is
performing real estate activities in the transaction in which
the forms are to be used.
(g) Every contract, duty or relationship within this
article, including intermediary or customer relationships,
imposes an obligation of good faith and fair dealing in its
performance or enforcement.
(h) If a real estate company has more than one (1)
licensee, the responsible broker and any licensee associated
with or engaged by that responsible broker may be designated to
work with the seller or the buyer as a designated licensee. For
an in-house real estate transaction, the designated licensee
shall be:
(i) A responsible broker;
(ii) An associate broker;
(iii) A salesperson under the direct supervision of a
responsible broker, and the responsible broker is not a party to
the real estate transaction; or
(iv) A salesperson who is under the direct
supervision of a transaction manager.
(j) Licensees employed or engaged by the same responsible
broker or across any companies the same responsible broker
supervises may be designated licensees for different buyers or
sellers in the same transaction. If the responsible broker is
representing a buyer or a seller in an in-house transaction, the
responsible broker shall immediately appoint a transaction
manager unless the other licensee is an associate broker. If the
responsible broker is representing a buyer or seller in a
transaction involving two (2) or more companies the responsible
broker manages, he shall immediately appoint a transaction
manager for each real estate company unless the other licensee
is an associate broker. The responsible broker shall disclose in
every real estate transaction to all parties involved the names
of all real estate companies the responsible broker supervises.
The simultaneous designations shall not constitute dual agency
or require the responsible broker or licensee to act as an
intermediary unless otherwise required by this article. A
responsible broker or transaction manager shall have access to
all necessary information but shall be prohibited from sharing
any confidential information of any party to the transaction
that the responsible broker or transaction manager may learn in
the process of supervising the licensees or the transaction.
(k) A licensee may work as an agent for the seller
treating the buyer as a customer or as an agent for the buyer
treating the seller as a customer but not as an agent for both
the seller and the buyer. A licensee may be designated to work
as an intermediary for both the seller and the buyer in the same
transaction pursuant to W.S. 33-28-307. The applicable
designated relationship shall be disclosed in writing to the
seller and buyer at the earliest reasonable opportunity. A
designated licensee is not precluded from working with a buyer
or seller in a real estate transaction solely because the
licensee was precluded from representing that person in an
earlier separate real estate transaction.
(m) No seller or buyer shall be vicariously liable for an
agent's acts or omissions that have not been approved, directed
or ratified by the seller or buyer.
(n) Nothing in this section shall be construed to limit
the responsible broker's responsibility to supervise licensees
associated with the responsible broker or real estate company or
to shield the responsible broker from vicarious liability.
(o) A licensee shall not establish dual agency with any
seller or buyer.
(p) A customer relationship shall exist between a licensee
and any party to a real estate transaction unless a single
agency or intermediary relationship is established through a
written agreement between the licensee and the party or parties.
When a buyer or seller has a written listing agreement with a
licensee, another licensee may work with the other buyer or
seller as a customer, having no written agreement, agency or
intermediary relationship with any party. A licensee shall not
owe any duty of confidentiality to a customer.
(q) Proprietary ownership interest of written listing
agreements shall be vested in the responsible broker.