N.H. Code Admin. R. Rea 701.01 - Brokerage Relationship Disclosure

(a) A licensee shall provide a written brokerage relationship disclosure to the consumer at the time of first business meeting.

(b) A licensee showing a property listed with another agency shall disclose their brokerage relationship verbally or in writing to the other party's agent prior to showing the property and in writing on the offer.

(c) Licensees shall use the "Brokerage Relationship Disclosure Form", effective June 2017, adopted by the commission.

(d) The above referenced disclosure form shall not be required to be given to buyer or tenant and seller or landlord or other licensees who attend an open house if the broker or salesperson, by sign, poster, pamphlet, or other conspicuous means, discloses the licensee's brokerage relationship with the seller.

(e) The above referenced disclosure form in (c) above shall include notice that a licensee acting in the capacity of a facilitator may only perform ministerial acts as defined in RSA 331-A:2, VI-a and is not obligated as an agent to the buyer or tenant and seller or landlord, and the fact that this relationship at some future time, but prior to the preparation of an offer, could change to an agency relationship.

(f) If a buyer or seller chooses not to enter into a relationship with the licensee and the consumer will not sign a brokerage relationship disclosure form, the licensee shall note that fact on a copy of the disclosure form and shall retain such copy for 3 years.

(g) A licensee intending to act in the capacity of a dual agent shall:

(1) At the time of first business meeting with a consumer to discuss a specific property, provide a written brokerage relationship disclosure pursuant to Rea 701.01(a);

(2) On the listing contract and buyer agency/tenant representation contract, give the client the option to accept or deny a dual agency statement of consent to showings, pursuant to Rea 404.04;

(3) Have the informed consent to dual agency agreement signed and reviewed by the buyer/tenant and seller or landlord at the time in which the dual agency occurs, but no later than the preparation of a written offer for sale or lease, pursuant to Rea 404.04; and

(4) Indicate in writing on the offer that the broker is acting in the capacity of a dual agent.

(h) A licensee intending to act in the capacity of a designated agent shall:

(1) At the time of the first business meeting with a consumer provide a written brokerage relationship disclosure, pursuant to Rea 701.01(a);

(2) On the listing contract and buyer agency/tenant representation contract, disclose to the client the firm's designated agency policy;

(3) On the above contracts there shall be disclosure and consent to all designated agents appointed to the client. Substitutions of designated agents shall not be made without the informed written consent of the client;

(4) 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;

(5) 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; and

(6) If the designated seller or landlord agent is also the designated buyer or tenant agent in the same transaction, the designated agent shall be a dual agent and a separate informed consent to dual agency shall be required in accordance with RSA 331-A:25-d.

Notes

N.H. Code Admin. R. Rea 701.01

#5077, eff 6-1-91; ss by #5168, eff 6-21-91; ss by #5576, eff 2-11-93; ss by #6738, eff 4-25-98; ss by #7267, eff 5-6-00; ss by #7522, eff 6-28-01; ss by #8835, 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.