N.H. Admin. Code § Rea 404.04 - Brokerage Contracts

(a) No broker or salesperson shall act on behalf of a seller or lessor with regard to negotiating the sale, purchase, exchange or lease of any real estate or of the improvements thereon, collect rents, or attempt to collect rents without a written contract signed by all parties.

(b) The listing contract in (a) above shall contain the following provisions:

(1) The date of execution;

(2) The address, location, description, and asking price of the real estate to sell, exchange, purchase or lease;

(3) The names and addresses of all parties to the contract;

(4) The professional fee stated as a dollar amount, percentage or other specific consideration; and

(5) The date the contract expires.

(c) Consent to designated agency shall be obtained within the listing agreement, pursuant to RSA 331-A:25-e, II.

(d) Consent to dual agency showings may be obtained within the listing agreement by a separate dated signature of the seller or landlord.

(e) Any provisions to extend the contract in (a) above for a specific period of time shall be agreed upon in writing by all parties to the contract.

(f) Net listings shall be prohibited. "Net listing" means a listing wherein the commission to be received is the difference between the selling price and a minimum selling price acceptable to the seller.

(g) No broker or salesperson shall act on behalf of a buyer or lessee with regard to the purchase, exchange or lease of any real estate or of the improvements thereon without a written contract signed by all parties.

(h) The buyer agency/tenant representation contract in (g) above shall contain the following provisions:

(1) The date of execution;

(2) General description, location, and price range of real estate sought;

(3) The names and addresses of all parties to the contract;

(4) The professional fee stated as a dollar amount, percentage, or other specific consideration; and

(5) The date the contract expires.

(i) Consent to designated agency shall be obtained within the buyer agency/tenant representation contract, pursuant to RSA 331-A:25-e, II.

(j) Consent to dual agency showings may be obtained within the buyer agency/tenant representation contract by a separate dated signature of the buyer/tenant.

(k) Any provisions to extend the contract in (g) above for a specific period of time shall be agreed upon in writing by all parties to the contract.

(l) A licensee may act as a disclosed dual agent only with the written informed consent of all parties.

(m) The disclosed dual agency informed consent agreement signed by all parties shall contain the following provisions:

(1) The date of execution;

(2) The date of the listing contract and date of the buyer agency/tenant representation contract;

(3) The names and addresses of all parties to the agreement and the real estate agency;

(4) A clear statement of the disclosed dual agent's duties pursuant to RSA 331-A:25-d;

(5) A statement that the disclosed dual agency informed consent agreement shall not be extended beyond the dated listing contract and the dated buyer agency/tenant representation contract without the necessary extensions, pursuant to Rea 404.04(e) and (k); and

(6) The date the disclosed dual agency informed consent agreement expires.

(n) If consent to dual agency showings is not obtained on the listing contract or buyer agency/tenant representation contract, then consent to dual agency may be obtained at a later date but only in accordance with Rea 404.04(l).

Notes

N.H. Admin. Code § Rea 404.04

#2130, eff 8-30-82; ss by #2847, eff 9-19-84; ss by #4304, eff 8-21-87; ss by #4631, eff 6-20-89; ss and moved by #5574, eff 2-11-93 (from Rea 404.05) , EXPIRED: 2-11-99

New. #7163, INTERIM, eff 12-18-99, EXPIRED: 4-16-00

New. #7265, eff 5-6-00; ss by #8833, eff 5-1-07; ss by #9270, eff 1-1-09

Amended by Volume XXXVII Number 28, Filed July 13, 2017, Proposed by #12213, Effective 6/18/2017, Expires 6/18/2027.