(a)For purposes of this section, open house showings,
preliminary conversations and requests for factual information
do not constitute discussions or arrangements incidental to a
sale, purchase, exchange or lease of real estate. Prior to
engaging in any discussion or arrangement incidental to a sale,
purchase, exchange or lease of real estate, and, prior to
entering into any written agreement with a buyer or seller, a
licensee shall make a written disclosure of applicable agency,
intermediary or customer relationships which shall contain at a
minimum the following:
(i)A description of all the different agency,
intermediary and customer relationships allowed by this article
and a statement that the compensation for different
relationships is negotiable;
(ii)An explanation of the duties a
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(a) For purposes of this section, open house showings,
preliminary conversations and requests for factual information
do not constitute discussions or arrangements incidental to a
sale, purchase, exchange or lease of real estate. Prior to
engaging in any discussion or arrangement incidental to a sale,
purchase, exchange or lease of real estate, and, prior to
entering into any written agreement with a buyer or seller, a
licensee shall make a written disclosure of applicable agency,
intermediary or customer relationships which shall contain at a
minimum the following:
(i) A description of all the different agency,
intermediary and customer relationships allowed by this article
and a statement that the compensation for different
relationships is negotiable;
(ii) An explanation of the duties and obligations
owed under each such relationship;
(iii) A conspicuous statement of duties and
obligations owed by an agent but which are not owed by an
intermediary;
(iv) A statement that any established relationship
cannot be modified without the written consent of the buyer or
seller and that the buyer or seller may, but is not required to,
negotiate different compensation as a condition of consenting to
a change in relationship;
(v) A statement that an intermediary is not an agent
or advocate for any party and has only the obligations set forth
in W.S. 33-28-305;
(vi) A statement that the seller or buyer may be
vicariously liable for acts of the agent, subagent or
intermediary if the seller or buyer approves, directs or
ratifies the acts; and
(vii) A statement that a customer shall not be
afforded any confidentiality in any communication to or with the
licensee.
(b) The written disclosure shall contain a signature line
for the buyer or seller to acknowledge receipt of the
disclosure. The disclosure and acknowledgment, by itself, shall
not constitute a contract or agreement with the licensee. Until
the buyer or seller executes such acknowledgment, no
representation agreement shall be executed or valid except,
provided if a buyer or seller refuses to sign the disclosure
after presentation by the licensee:
(i) The licensee may document the refusal with a
signed acknowledgement by the licensee and continue with the
transaction; and
(ii) The disclosure and acknowledgement shall be
attached to and may become incorporated into any written
agreements with the buyer or seller as prescribed in W.S.
33-28-302(b) and (c).
(c) A licensee who has established an agency relationship,
a subagency relationship or an intermediary relationship with a
seller or buyer shall provide notice of that relationship to any
other party to the transaction at the earliest reasonable
opportunity.
(d) Disclosures made in accordance with this article shall
be sufficient to disclose agency, intermediary and customer
relationships to the parties to the transaction and to the
public.