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- Alaska Statutes.
- Title 8. Business and Professions
- Chapter 88. Real Estate Brokers and Other Licensees
- Section 695. Definitions.
previous: Section 690
next: Section 900
AS 08.88.695. Definitions.
In AS 08.88.600
- (1) "compensation" includes a commission;
- (2) "confidential information" means information from or concerning a person that
- (A) the licensee acquired during the course of the licensee's relationship as a licensee with the person;
- (B) the person reasonably expects to be kept confidential;
- (C) the person has not disclosed or authorized to be disclosed to a third party;
- (D) would, if disclosed, operate to the detriment of the person; and
- (E) the person is not obligated to disclose to the other party in a real estate transaction;
- (3) "designated licensee" means
- (A) a real estate licensee who works for a real estate broker and represents or provides specific assistance to a person
in a real estate transaction when another licensee who is working for the same broker represents or provides specific
assistance to an unrepresented person in the same transaction; or
- (B) a real estate broker who represents or provides specific assistance to a person in a real estate transaction when
another licensee who is working for the broker represents or provides specific assistance to another person in the same
- (4) "neutral licensee" means a real estate licensee who
- (A) provides specific assistance to both the buyer and the seller, or both the lessor and the lessee, in a real estate
- (B) does not represent either party;
- (5) "personal services contract" includes a listing, a fee agreement between brokers and sellers, buyers, lessors, or
lessees, a management contract with property owners, or any other agreement by which a broker agrees to perform a duty
with respect to real estate for an agreed upon fee or commission;
- (6) "real estate services" means services related to a real estate transaction;
- (7) "represent" means to provide real estate services to a person if the services are not limited to specific assistance;
- (8) "specific assistance"
- (A) means
- (i) asking questions regarding confidential information for a real estate transaction;
- (ii) showing pieces of real estate selected for a buyer's or lessee's specific needs or desires;
- (iii) preparing a written offer for a real estate transaction; or
- (iv) entering into a personal services contract;
- (B) does not include
- (i) hosting an open house;
- (ii) casual conversation regarding real estate;
- (iii) receiving calls or electronic inquiries from the licensee's signs, advertisements, or Internet site;
- (iv) providing information regarding a piece of real estate;
- (v) setting an initial appointment to show a piece of real estate;
- (vi) receiving unsolicited information from a buyer or lessee before or after disclosure of a real estate relationship.
Article 06. GENERAL PROVISIONS
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